Q4 2023 Earnings Report
Proven ability to create value through M&A
RSC
Equipment Rental
2012 GenRent
Positions URI as
leader in North
American rental
industry
National Pump
& Compressor
Rental Sales +Service
2014/Specialty
Expand
offerings
higher margin/
return assets
NES
Rentals
2017 GenRent
Strengthened aerial
capabilities; added
two-way cross-sell
opportunities
Key Acquisitions
NEFF
RENTAL
2017 GenRent
BAKER COFIPS
2018/Specialty
Strategic Value
New capabilities in
infrastructure; added
two-way cross-sell
opportunities
Expand offerings in
higher return
assets
Financial Benefits
BlueLine
Rental
2018 GenRent
Bolstered NA
rental position;
increased local and
mid-sized presence
GeneralFINANCE
2021 / Specialty
Expanded offering;
differentiated
ability to provide
one-stop shopping
WERN
RENTALE
2022GenRent
Bolstered NA rental
position; increased
local and mid-sized
presence
$200M
of cost synergies
Delivered on growth
thesis; capitalize on
cross-sell opportunity
$40M
$35M
$19M
of cost synergies,
$35M
of cost synergies,
$15M
of cost synergies,
$60M
$45M
of cost synergies,
$35M
$17M
of cost synergies,
$65M
of revenue synergies
of revenue synergies
of revenue synergies
of revenue synergies
of revenue synergies
Cultural Alignment
M&A is a Core Competency that Benefits Both Customers and Shareholders
Note: Financial benefits are not exhaustive and exclude the net present value of related tax benefits. Cost and revenue synergies reflect targeted levels.
United Rentals®
Work United®
$40M
of cost synergies,
$60M
of revenue synergies
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