United Rentals, Inc. has completed its previously announced acquisition of Pasadena-based General Finance Corp., United Rentals said in a statement Tuesday.
United Rentals CEO Matthew Flannery said they’re delighted “to welcome our new customers and team members” to the company.
General Finance Corp. is a specialty rental services company offering portable storage, modular space and liquid containment solutions. In North America, General Finance’s operations consist of wholly-owned subsidiaries Pac-Van, Inc., which provides portable storage and office containers, mobile offices and modular buildings; and Lone Star Tank Rental Inc., a provider of liquid storage tank containers.
General Finance also owns Royal Wolf, a leading lessor of portable storage solutions in Australia and New Zealand, and Southern Frac, LLC, which manufactures portable liquid storage tank containers in North America.
In 2020, General Finance’s total sales were $356.4 million.
“This is an acquisition with strong strategic and financial merits, timed to serve the increasing demand in our end markets,” Flannery said. “It expands our growth capacity with the addition of leading mobile storage and modular office solutions, including over 900 employees with complementary expertise. As customers turn to us for the equipment they need, we’re giving them the industry’s most complete range of solutions to help them succeed.”
United Rentals plans to update its 2021 financial outlook to reflect the combined operations when it releases financial results for the second quarter.
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