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UNITED RENTALS, INC. 8-K Report, Acquisition Completed (Dec 7, 2022)

Reports
Acquisitions & Dispositions·Regulation FD·Exhibits & Filings
Filing Date
Filed December 7, 2022
Period End
December 7, 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 December 7, 2022. Cited figures are marked; the original filing is the authoritative source.

United Rentals, Inc. (URI) has officially completed its acquisition of substantially all of the U.S. equipment rental and sales assets of Ahern Rentals, Inc. and Xtreme Re-Rental, LLC for $2 billiona in cash.

This significant transaction, finalized on December 7, 2022, was funded through existing credit facilities and newly issued senior secured notes, as previously disclosed. The acquisition is expected to bolster United Rentals' market position and expand its operational footprint within the United States. Investors should monitor the integration of these acquired assets and the impact on the company's financial performance, including revenue growth and profitability, in the coming quarters.

02—Key points

Key Highlights

  1. Completion of acquisition of U.S. equipment rental and sales assets from Ahern Rentals, Inc. and Xtreme Re-Rental, LLC.
  2. Aggregate purchase price of $2.0 billion, paid in cash.
  3. Transaction closed on December 7, 2022.
  4. Acquisition funded by borrowings under URI's senior secured asset-based loan facility and newly issued senior secured notes.
  5. The acquired assets represent substantially all of the sellers' U.S. equipment rental and sales business.
  6. This marks a significant strategic expansion for United Rentals in the U.S. market.

03—Questions

Frequently Asked Questions

  1. What was acquired by United Rentals in this filing?

    United Rentals, through its subsidiary United Rentals (North America), Inc., acquired substantially all of the assets related to the equipment rental and sales business in the United States from Ahern Rentals, Inc. and Xtreme Re-Rental, LLC.

  2. What was the total cost of this acquisition?

    The aggregate purchase price for the acquisition was $2.0 billion, subject to certain post-closing adjustments. The payment was made entirely in cash.

  3. How was the acquisition funded?

    The transaction was funded through borrowings under United Rentals' senior secured asset-based loan facility and newly issued senior secured notes, as previously announced.

  4. What is the strategic importance of this acquisition for United Rentals?

    This acquisition is a significant strategic move to expand United Rentals' market presence and capabilities within the U.S. equipment rental and sales sector.

04—Continue

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