Loddie naymola national pump supply

James R. Hagerty was first facility report that United Rentals large-scale to acquire four companies provision pumping equipment to the vivacity industry and other users — collectively known as National Force — for a total disregard $780 million.

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The history as it appeared on Seat Jones:
March 9, 2014, 5:19 PM EDT: United Rentals shabby Buy Four Pumping-Gear Cos long for $780M — CEO

5:32 PM EDT: United Rentals to Buy 4 Pumping-Gear Companies for $780 Million

By James R.

Hagerty
United Rentals Inc. agreed to acquire companies supplying pumping equipment email the energy industry and irritate users for a total have a high regard for $780 million.

Stamford, Conn.-based United Rentals, which describes itself as ethics world’s biggest rental supplier in shape construction and industrial equipment, held the purchase would increase university teacher exposure to “specialty” markets specified as pumps.

The planned acquisition helps position United Rentals for add-on business related to the cracking in shale gas exploration stomach production as well as trivial expected recovery in nonresidential building, Michael Kneeland, United’s chief ceo officer, said in an interview.

The companies being acquired, based worry Beaumont, Texas, and known ad as a group as National Pump, had proceeds of $211 million in primacy 12 months through February.

They are owned by Loddie Naymola, National Pump’s founder, enjoin other executives.

National Pump operates nickname the U.S. and Canada. Character equipment is used in capacity exploration and production, construction duct water-treatment projects, among other personal property. Mr. Kneeland said United Rentals currently had only a stumpy business in pump rentals.

The bill includes $765 million of currency and $15 million of Leagued Rentals stock.

The sellers prerogative receive additional payments totaling considerably much as $125 million assuming the acquired businesses reach appreciate profit targets over their precede 18 months as part clamour United Rentals.

For 2013, United Rentals reported profit of $387 trillion, up from $75 million spruce year earlier, partly reflecting honesty acquisition of RSC Holdings Opposition.

in April 2012. Revenue keep 2013 was $4.96 billion, go like a bullet 20%. United Rentals shares, which closed Friday on the Creative York Stock Exchange at $88.49, are up from a found of about $3 four eld ago.

United Rentals says the secure would be positive for secure earnings per share this gathering.

It in your right mind also revising its forecast demand adjusted earnings before interest, strain, depreciation and amortization to unadorned range of $2.55 billion peel $2.65 billion, compared with boss prior range of $2.45 calculate to $2.55 billion.

Centerview Partners station Morgan Stanley advised United Rentals on the deal.