Compass Group Invests in South Carolina Bridge Infrastructure Equipment Provider
Compass Group Equity Partners, a St. Louis-based private equity firm specializing in growing lower middle market companies, announced an investment in Anderson UnderBridge, a manufacturer and rental operator of mobile bridge inspection trailers and trucks utilized in the inspection and maintenance of bridge infrastructure. This partnership is the first step in the creation of a full-service…
Absolute Powerhouse: Next-Generation 2022 Toyota Tundra
With a plethora of adventure-ready, go-anywhere, been-anywhere vehicles cementing its foundation, the all-new 2022 Toyota Tundra is born from a lineage of trucks and SUVs rooted in quality, durability and reliability. Its predecessors hit the million-mile mark on more than one occasion thanks to a team of engineers who built the truck above and beyond…
Caterpillar to Expand Hydrogen-Powered Solutions to Customers
Caterpillar Inc. (NYSE: CAT) today announced it will begin offering Cat® generator sets capable of operating on 100% hydrogen, including fully renewable green hydrogen, on a designed-to-order basis in late 2021. More immediately, the company will launch commercially available power generation solutions that can be configured to operate on natural gas blended with up to 25% hydrogen. These…
The Manitowoc Company to Acquire H&E Equipment’s Crane Business
The Manitowoc Company, Inc. (NYSE: MTW) (the “Company” or “Manitowoc”), a leading global manufacturer of cranes and lifting solutions, announced today that it has entered into a definitive agreement to acquire the crane business of H&E Equipment Services, Inc. (“H&E”) (NASDAQ: HEES), one of the largest rental equipment companies in the U.S. Under the terms…
Equipment Leasing and Finance Industry Confidence Up for Third Consecutive Month in January
The Equipment Leasing & Finance Foundation (the Foundation) releases the January 2020 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $900 billion equipment finance sector. Overall, confidence in…
Williams Scotsman to Acquire Acton Mobile
WillScot Corporation (NASDAQ:WSC) (“Williams Scotsman”) today announced that it has entered into a definitive agreement whereby Williams Scotsman International, Inc. will acquire the entity that owns Acton Mobile (ActonMobile.com) from Prophet Equity for a cash purchase price of $235 million, subject to customary adjustments. Brad Soultz, president and chief executive officer of Williams Scotsman, commented,…
EquipmentWatch Establishes New Standard for Standby and Idling Cost Calculation
EquipmentWatch, a leader in data, software, and insights for the heavy equipment industry, has expanded its Cost Recovery product to include hourly cost rates for standby and idling equipment. These new rates are a welcome addition to the standard Rental Rate Blue Book active use rates specified by the Federal Highway Administration, most state DOTs,…
Ritchie Bros. to Close Raleigh-Durham Location as Buyers Move Online
Construction and industrial equipment sales group Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) will be closing five locations across North America in a move to focus on online sales and larger locations. In an email to employees, Ritchie Bros. CEO Ravi Saligram said the closure of small sites comes as more people are taking part in auctions…
EquipmentWatch Announces Lowest Cost of Ownership Awards Winners
Today, EquipmentWatch named the winners of the 2017-2018 Lowest Cost of Ownership Awards. The announcement was made during the awards ceremony held during EquipmentWatch’s 1st annual customer conference, Traction. The winners represent the models, within their respective equipment types, with the lowest five year total cost of ownership and were identified using proprietary EquipmentWatch Ownership…
Sunbelt Rentals to Acquire CRS
CRS Contractors Rental Supply Limited Partnership (“CRS”) has entered into a unit purchase agreement to sell CRS to Sunbelt Rentals (“Sunbelt”), the North American business of Ashtead Group plc, for C$275 million plus a potential earn-out. Sunbelt Rentals is headquartered in Fort Mill, SC. CRS is Sunbelt’s first acquisition in Eastern Canada and will become…
