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22-551: URI was founded in 1997 by Brad Jacobs and grew primarily through acquisition. It offers general, aerial, and specialty rentals to a customer base that includes construction and industrial companies; utilities; municipalities; and homeowners. In addition to rentals, the company offers new and used equipment sales, servicing, and safety training. Since 2019, United Rentals has been led by Matthew Flannery (President & CEO), Michael Durand (Executive Vice President & COO), and Ted Grace (Executive Vice President & CFO). The company

44-490: A 13 percent market share of the equipment rental industry. In 2013, United Rentals moved its headquarters from Greenwich, Connecticut , to Stamford, Connecticut . On March 9, 2014, the company announced plans to acquire National Pump for $ 780 million. This made United Rentals the second-largest pump rental company in North America. The transaction was finalized on March 31, 2014. In June 2014, United Rentals

66-406: A definitive agreement to sell itself to Cerberus Capital Management in a transaction valued at approximately $ 6.6 billion, including the assumption of approximately $ 2.6 billion in debt obligations. URI's board of directors approved the merger agreement and recommended that stockholders do the same. On November 15, 2007, the company announced that Cerberus was not prepared to proceed with

88-592: Is an art collector with works by Picasso , de Kooning , Calder , Lichtenstein and others. BlueLine Rental BlueLine Rental , formerly Volvo Rents , was an American company that rented construction equipment to contractors and retail consumers through a network of company owned stores. The company specialized in renting a variety of construction equipment, ranging from small tools and light towers to large earthmoving equipment. It also offered services such as equipment maintenance and repair, on-site technical assistance, and equipment delivery. BlueLine Rental

110-962: Is chairman and CEO of QXO, Inc. In addition, he is executive chairman of XPO, Inc. , and non-executive chairman of RXO, Inc. and GXO Logistics both of which are spin-off companies from XPO, Inc.. Jacobs was born in Providence, Rhode Island , the son of Charlotte Sybil (née Bander) and Albert Jordan Jacobs. His father was a fashion jewelry importer. He graduated from Northfield Mount Hermon School and then went on to attend Bennington College and Brown University and studied math and music; however, he dropped out in 1976. Jacobs has created eight corporations, six of which are publicly traded: QXO (2024); XPO , Inc. (2011) and its spin-offs, GXO Logistics (2021) and RXO (2022); United Rentals, Inc. (1997); and United Waste Systems, Inc., now Waste Management, Inc. (1989). In 1979, Jacobs co-founded Amerex Oil Associates, Inc., an oil brokerage firm. Jacobs

132-513: Is headquartered in Stamford , Connecticut . In 2019, United Rentals was announced the 6th best stock of the 2010s, with a total return of 1,559%. United Rentals is primarily a provider of construction and industrial equipment: trucks, aerial work platforms , counterbalance forklifts, reach forklifts , earth movers, compressors , homeowner equipment, and similar devices. Together, these are considered general and aerial rentals, and they make up

154-462: Is named United Rentals Reliable Onsite Services. On July 2, 2018, United Rentals announced it had agreed to purchase BakerCorp International for about $ 715 million in cash, enhancing its Pump Solutions division. BakerCorp is a leading provider of tank, pump, filtration, and trench shoring rentals, with about 950 employees, 46 locations in North America, and another 11 locations in Europe. Following

176-504: The New York Stock Exchange under the symbol URI. In June 1998, it acquired U.S. Rentals, Inc., for a sum variously reported as $ 1.2 billion and $ 1.31 billion. The acquisition made United Rentals the largest equipment rental company in North America. On December 26, 2006, United Rentals announced the sale of their Highway Technology division to HTS Acquisition, Inc. On July 23, 2007, United Rentals announced

198-402: The $ 100 million termination fee stipulated in the original agreement. On December 16, 2011, United Rentals and RSC Holdings, Inc . announced that they had entered into a definitive merger agreement, under which United Rentals would acquire RSC in a cash-and-stock transaction. The largest merger in rental equipment history was finalized on April 30, 2012, boosting URI to what was at the time

220-752: The acquisition of Ahern Rentals, Inc. for approximately $ 2.0 billion in cash, adding Ahern's 106 rental facilities and approximately 66,000 rental assets. On March 15, 2024, United Access completed the acquisition of Yak Access, Yak Mat and New South Access & Environmental Solutions from Platinum Equity for approximately $ 1.1 billion. United Rentals of Canada, Inc., a subsidiary of United Rentals, has agreed to acquire WesternOne Rentals & Sales LP with an all cash purchase of $ 91.8 million. The acquisition will add 330 employees and twelve locations in Alberta , British Columbia , and Manitoba . Brad Jacobs (businessman) Brad Jacobs (born August 3, 1956)

242-476: The acquisition on April 3, 2017. On August 22, 2017, United Rentals announced it had acquired all power generation assets, primarily mobile generator sets, from Cummins Inc. To maintain fleet and customer service continuity, a small number of Cummins employees joined United Rentals. On October 2, 2017, United Rentals announced it had completed the acquisition of Neff Corporation, a competing general equipment rentals company, for approximately $ 1.3 billion. In

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264-592: The bulk of URI's rental fleet and customer base. The company also rents equipment in five primary specialty fields: Additional specialty fields include: United Rentals was founded in September 1997. Then-chairman and CEO Bradley Jacobs planned to grow the company through acquisition and consolidation, beginning in October 1997 with six small leasing companies scattered across North America. In December 1997, three months after forming, United Rentals began trading on

286-601: The company public in December 1997 on the New York Stock Exchange. In 2010, he established Jacobs Private Equity LLC to invest in a single company. In 2011, Jacobs invested approximately $ 150 million in XPO, Inc. (then named Express-1 Expedited Solutions ), a transportation and third-party logistics provider. He became chairman of the board and CEO and gained ownership of approximately 71 percent of

308-484: The company. The company was later listed on the New York Stock Exchange under the ticker symbol XPO, Inc. In August 2021, XPO, Inc. completed its spin-off of GXO Logistics, and Jacobs became non-executive chairman of GXO's board of directors. In August 2022, Jacobs announced plans to step aside as CEO of XPO, Inc. but remain executive chairman. In November 2022, XPO, Inc. completed its spin-off of RXO, and Jacobs became RXO's non-executive chairman. In 2023, he announced

330-399: The purchase on the terms set forth in its merger agreement. Cerberus confirmed that there had not been a material adverse change at United Rentals, which would have let it bow out of the deal without penalty. On December 21, 2007, a Delaware Chancery Court ruling denied United Rentals' attempt to force Cerberus to follow through on the takeover bid. However, the court did order Cerberus to pay

352-546: The transaction, United Rentals acquired approximately $ 867 million in equipment (based on original equipment cost) and Neff's 69 rental facility locations in the United States. On October 4, 2017, United Rentals announced it had acquired the assets of Superior Speedie Portable Services, Inc. and Superior Logistics Services, Inc. (together "Superior Speedie"), which includes a fleet of over 8,000 portable toilets and over 130 restroom trailers. This new specialty division

374-658: The transaction, United Rentals changed the name of its Pump Solutions division to United Rentals Fluid Solutions. On September 11, 2018, United Rentals announced an agreement to add BlueLine Rental , one of the top ten rental equipment companies in North America, to its growing list of acquisitions. United Rentals' board of directors unanimously approved the deal to purchase BlueLine from Platinum Equity for about $ 2.1 billion in cash. BlueLine has 114 locations in 25 US states, Canada, and Puerto Rico, and approximately 46,000 rental assets marketed primarily to mid-sized and local accounts. On December 7, 2022, United Rentals completed

396-534: The upcoming release of his book How to Make a Few Billion Dollars . In June 2024, Jacobs founded QXO with the intention to consolidate the $ 800 billion building products distribution industry. With the launch, he raised more than $ 5 billion of equity, including what Bloomberg called the largest equity offering ever in the building products sector and private investment in public equity for industrials. Jacobs and his wife live in Greenwich, Connecticut . Jacobs

418-496: Was chairman and chief executive officer, and in 1992 he took the company public. Jacobs sold United Waste Systems to USA Waste Services, Inc. for $ 2.5 billion in August 1997. In September 1997, Jacobs formed United Rentals, and became the new company's chairman and chief executive officer. During late 1997 and early 1998, Jacobs grew the company through a strategy of consolidating equipment rental dealers in North America. He took

440-544: Was first listed on the Fortune 500. Based on its 2013 revenues of $ 4.955 billion, the company was ranked exactly 500th. It had previously made it as high as 517 in 2002, before falling back down. On September 19, 2014, URI was added to the S&;P 500 Index . On January 25, 2017, United Rentals announced the purchase of NES Rentals, a competing general equipment rentals company, for approximately $ 965 million. It completed

462-626: Was founded as Volvo Rents on July 2, 2001. Volvo Rents was a wholly owned subsidiary of the Volvo Group , which is a publicly held company headquartered in Gothenburg, Sweden . Volvo Rents had more 185 locations in North America . As of May 2011, the company was number 17 on the annual RER 100. In February 2014, Volvo Rents was sold to Platinum Equity and changed its name to BlueLine Rental. In January 2016, Asterios Satrazemis

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484-424: Was the company's CEO until it was sold in 1983. In 1984, Jacobs moved to London and founded Hamilton Resources, Ltd., where he conducted oil trading deals. Jacobs has frequently recognized Ludwig Jesselson as an influential mentor. In 1989, Jacobs founded United Waste Systems in Greenwich, Connecticut , and began consolidating small waste collection companies that had overlapping routes in rural areas. Jacobs

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