United Rentals Inc has completed its acquisition of BakerCorp International Holdings Inc for a total purchase price of around US$715 million.
BakerCorp is a multinational provider of tank, pump, filtration and trench shoring rental solutions for industrial and construction applications.
The BakerCorp acquisition has added approximately 25 000 units of fleet, 46 branches in North America and 11 in Europe, and approximately 950 employees to United Rentals’ footprint. For the trailing 12 months ended 31 May 2018, BakerCorp generated US$79 million of adjusted EBITDA at a 26.9% margin on US$295 million of total revenue.
Michael Kneeland, CEO of United Rentals, said: “The Baker acquisition is a highly strategic move on our part to grow our Specialty segment. Our expanded expertise in fluid solutions will benefit our customers and build long-term value for our investors. Today we welcomed almost a thousand top-notch colleagues as the first step in the integration.”
