Contractors Rental Supply acquired by Sunbelt

Catalyst Strategic Advisors
July 19, 2017
By Catalyst Strategic Advisors
CRS Contractors Rental Supply has entered into a unit purchase agreement to sell CRS to Sunbelt Rentals, the North American business of Ashtead Group, for $275 million plus a potential earn-out. CRS is Sunbelt’s first acquisition in eastern Canada and will become Sunbelt’s operational platform in Ontario. The proposed transaction is expected to close in the coming weeks after satisfaction of certain regulatory approvals.

Steve Fay, chairman of CRS, said “We are very pleased to be partnering with Ashtead and Sunbelt. Their culture, values and total focus on their people and customers is exceptional, and perfectly aligned with CRS. The CRS partnership with Clairvest Group which began in 2013 has been very successful and we look forward to continuing to provide our customers with industry-leading equipment and service as part of the Ashtead team.”

Geoff Drabble, CEO of Ashtead, commented, "This acquisition is a significant next step in developing Sunbelt's position in Canada and our first move into the important Ontario market. I look forward to welcoming all of the CRS employees who will be joining Sunbelt as part of the acquisition and to working with them to deliver on the major opportunities ahead."

While all parties involved have a strong desire to complete the sale, there can be no guarantee that the transaction will be completed, or if it is completed, that it will close within the anticipated time period. 

CRS was founded in 2000 by a group of industry veterans, and has developed and maintained a reputation for providing the best customer service in the industry of equipment sales, rentals and services. CRS has grown significantly and now employs over 400 people across 28 locations in Ontario, Canada.

For more information
Contractors Rental Supply
Sunbelt Rentals

Comments  

 
-1 #1 Brad James 2017-07-27 06:54
Good Day
As a small rental store we are not really affected by them.I look at it as we will take the dayly rentals @ list and rent it for 3 days for what they rent for Mth.
But I wish them luck I have been at it for 42 yrs and consider myself one of the best and knowledgable rental guys and a word of advice.You are not training your counter people on product knowledge and specs.
If you are a golfer will understand what I am saying.Do you know the secret to golf > THEY CUT THE GRASS WERE TO HIT THE BALL. SSSHH keep it under your hat .People sometimes don't see the obvious .Send your counter guys to rental show and have them learn .1 simple question and you can ask any counter thisIf a 140 lb ags plate go 72 ft per min how fast does a 1000 lb go.1 in 100 will get it right . .
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