Dallas, Texas 05/16/2014 (FINANCIALSTRENDS) – United Rentals, Inc (NYSE:URI) has announced that it has now acquired the Power & HVAC assets of the Blue-Stream Services. The latter is a leader in the equipment rental-services within the Gulf region. The 4 Blue-Stream locations that exist in New Iberia & in Baton Rouge, La as well as in Dallas & Houston, Texas, serve very diverse end-markets including oil & gas, disaster-recovery, industrial, construction & entertainment.
Paul McDonnell, the senior VP of operations for URI stated that The Blue-Stream buy expands the company’s footprint of the Power & HVAC specialty rental-operations in the Gulf, & it deepens their presence in the attractive end markets. This is a high-margin business and has an experienced team & strong customer-relationships. It offers very significant cross-selling opportunities with our broader network. King and Spalding LLP have served as the legal advisor to the company & Perret Doise LLC has served as the legal advisor for Blue-Stream Services.
What URI does
United Rentals, Inc (NYSE:URI) is the world’s largest equipment-rental company and has an integrated-network of 876 different rental locations across 49 states & in 10 Canadian provinces. Its approximately 12,200 employees all serve in construction & the industrial customers and utilities, municipalities as well as homeowners and others. URI offers around 3,100 classes in equipment for rent that have a total original-cost of $7.99 billion.
The company is a member of – Standard and Poor’s MidCap-400 Index, and the Barron’s 400 Index, as well as the Russell 2000 Index® & its headquarters are in Stamford, in Conn. The company’s trench safety, power & HVAC segment includes rental of specialty-construction products & the related services. This trench safety, power & HVAC segment customers are construction companies that are involved in infrastructure projects, and municipalities as well as industrial companies, among others.