Continuing to expand its portfolio throughout California, Volvo Rents announces the acquisition of Rental Solutions, a three-location construction equipment rental company with stores in Napa Valley, Santa Rosa and Cloverdale, CA.
This is the latest move as part of the company’s recent surge of 24 acquisitions since the beginning of the year – including six in California – lifting its North American total to 120 stores and statewide presence to a total of 12 rental centers.
It also comes on the heels of a forecast by economists at IHS Global Insight that says California will lead the pack in a nationwide construction recovery through 2016. According to IHS stats, California will have the most construction dollars spent ($723 billion); will have the largest gain in yearly spending dollars ($76.40 billion); and have the third highest annual average percentage gain (15.6%).
“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 further 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.”
In addition to Volvo Rents’ expanding line of Volvo compact equipment – such as backhoe and skid steer loaders, compact wheel loaders, compact excavators and compaction equipment – the rental centers carry a comprehensive line of essential equipment and tools for the construction, commercial, industrial and homeowner markets. The focus is on daily, weekly and monthly rentals.
“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 Mark Nichols, who co-founded Rental Solutions in 2002. “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.”
Nichols will remain active with the operations/management of all three locations as general manager.