Volvo Rents Acquires Three-Location Rental Solutions in California
Continuing the expansion of its California rental business portfolio, Volvo Rents last week acquired Rental Solutions, a three-location construction equipment rental company with stores in Napa Valley, Santa Rosa and Cloverdale, Calif.
This is the latest move in the company’s recent surge of 24 acquisitions since the beginning of the year — including six in California — increasing its North American total to 120 rental centers and its total statewide presence to 12.
The latest acquisition comes on the heels of a forecast by economists at IHS Global Insight that predicts California will lead the pack in a nationwide construction recovery through 2016. According to IHS statistics, California will have the most construction dollars spent ($723 billion); will have the largest gain in yearly spending dollars ($76.4 billion); and have the third-highest annual average percentage gain (15.6 percent).
“California’s economy is growing again, and will see strong economic growth over the near- and long-term, translating into greater construction activity,” said Mike Crouch, vice president of business development for Volvo Rents. “The acquisition of Rental Solutions is a strategic move that will strengthen our presence in California and puts us in a favorable position to meet what will undoubtedly translate into a growing demand for construction equipment rental.”
The new Volvo Rents locations will all be managed by Mark Nichols, who co-founded Rental Solutions in 2002.
“Volvo Rents’ strong national presence and brand recognition made our decision to become part of the company’s network of stores an easy one,” said Nichols. “Our customers can be assured that Volvo Rents understands their needs and will exceed their expectations through a high level of care and commitment to local decision-making.”
Headquartered in Shippensburg, Pa., Volvo Rents is No. 21 on the new RER 100.