Skip to content
AnalystLens

UNITED RENTALS, INC. 8-K Report, Material Agreement (Nov 14, 2022)

Reports
Material Agreements·Regulation FD·Exhibits & Filings
Filing Date
Filed November 14, 2022
Period End
November 11, 2022
Security
URI
In the record · 2016–202610-K1110-Q328-K170

URI filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 170 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Oct ’17Oct ’17
  2. Material agreement8-K · Nov ’19Nov ’19
  3. Leadership change8-K · Nov ’21Nov ’21
  4. Material agreement8-K · Jun ’26Jun ’26

01—Abstract

Summary

Summary of the 8-K filed November 14, 2022. Cited figures are marked; the original filing is the authoritative source.

United Rentals, Inc. (URI) announced on November 14, 2022, through its subsidiary United Rentals (North America), Inc. (URNA), the entry into a definitive Asset Purchase Agreement to acquire substantially all of the U.S. equipment rental and sales business assets of Ahern Rentals, Inc. and Xtreme Re-Rental, LLC for $2.0 billiona in cash.

This strategic acquisition is expected to close prior to December 31, 2022, and will be financed through a combination of newly issued debt and existing asset-backed loan capacity. This significant transaction represents a substantial investment aimed at expanding United Rentals' market presence and capabilities.

The acquisition is subject to customary closing conditions, including regulatory approvals, and includes customary representations, warranties, and covenants. The company has already received expiration of the Hart-Scott-Rodino waiting period, indicating a positive step towards completion.

02—Key points

Key Highlights

  1. United Rentals to acquire Ahern Rentals' and Xtreme Re-Rental's U.S. equipment rental and sales business for $2.0 billion in cash.
  2. The transaction is expected to close before the end of 2022.
  3. Financing for the acquisition will come from newly issued debt and existing credit facilities.
  4. The deal involves acquiring substantially all of the specified business assets in the United States.
  5. Customary closing conditions, including regulatory approvals, must be met.
  6. The Hart-Scott-Rodino waiting period has expired.
  7. The agreement includes standard representations, warranties, covenants, and indemnification provisions.

03—Questions

Frequently Asked Questions

  1. What is the main purpose of this 8-K filing?

    This 8-K filing announces United Rentals, Inc.'s entry into a material definitive agreement to acquire the U.S. equipment rental and sales business assets of Ahern Rentals, Inc. and Xtreme Re-Rental, LLC.

  2. What is the financial impact of this acquisition?

    The acquisition is valued at $2.0 billion in cash, subject to certain adjustments. United Rentals plans to fund this acquisition using a mix of newly issued debt and its existing asset-backed loan facility.

  3. Are there any conditions that need to be met for the acquisition to be completed?

    Yes, the transaction is subject to customary closing conditions, which include obtaining necessary regulatory approvals, the absence of any prohibitory laws or orders, the accuracy of representations and warranties, material compliance with covenants, absence of material adverse effects on the business, execution of ancillary documents, and delivery of pay-off letters for seller debt.

  4. What is the expected timeline for the completion of this acquisition?

    United Rentals expects the transaction to close prior to December 31, 2022.

04—Continue

← View all 8-K filings