Driving Digital Transformation and Shareholder Value
Record of value creation through M&A
•
•
RSC
(2012)
Size: $4.2B
transaction value
(cash and stock)
Type: 'Grow-the-
core' gen rent
acquisition
Rationale: Positions
URI as leader in
North American
rental industry
Value: Targeted
$200M cost savings
from branch
consolidation and
overhead
rationalization
Exceeded initial
cost savings
•
•
National Pump
(2014)
Size: $780M
transaction value
(cash)
Type: Specialty
adjacency in the
pump rental sector
Rationale: Expand
offerings in higher
margin / return
assets
Value: Delivered on
growth thesis by
capitalizing on
cross-selling
opportunity
•
Secured foothold
in energy-related
end markets
estimates -
.
Strongly
Raised target to
$230M - $250M
diversified into
core construction
and industrial
•
NES
(2017)
Size: $965M
transaction value
(cash)
Type: 'Grow-the-
core' gen rent
acquisition
Rationale:
Strengthened aerial
capabilities and
added two-way
cross-selling
opportunities
Value: Targeted
$40M cost savings
and $35M of revenue
cross-sell opportunity
.
•
Neff Rentals
(2017)
Size: $1.3B
transaction value
(cash)
Type: 'Grow-the-
core' gen rent
acquisition
Rationale:
Introduced new dirt
capabilities and
expertise in
infrastructure;
provided two-way
cross-selling
opportunities
Value: Targeted
$35M cost savings
and $15M of revenue
cross-sell opportunity
•
BakerCorp
(2018)
Size: $720M
transaction value
(cash)
Type: Specialty
adjacency in the
fluid control sector
Rationale: Expand
offerings in higher
return and lower
volatility assets
Value: Targeted
$19M cost savings
and $60M of cross-
sell revenue
opportunity
•
•
•
BlueLine
(2018)
Size: $2.1B
transaction value
(cash)
Type: 'Grow-the-
core' gen rent
acquisition
Rationale: Bolstered
URI's position as a
leader in the North
American rental
industry while also
adding to presence
with local and mid-
sized customer
segment
Value: Targeted
$45M cost savings
and $35M of cross-
sell revenue
opportunity
With 20 years of execution experience for 275+ transactions, team has successfully
integrated assets in different environments and across the spectrum
from bolt-ons to transformational
United Rentals®
United Rentals, Inc., 100 First Stamford Place, Stamford, CT 06902. 2020 United Rentals, Inc. All rights reserved.
28View entire presentation