international

A KHL Group Publication
NEWS
rental
INTERNATIONAL
www.khl.com
IRN100: 2007-2011
Ranking Europe’s
largest rental companies
IRN100
100
Ranking the world’s largest
rental companies
2007-2011
Revenues are increasing and companies are getting
bigger – these are the obvious messages from this
year’s IRN-100. But what else does it tells us about
the global rental market? Murray Pollok reports.
T
here are around 14000 rental companies in
Europe alone, so looking at what the world’s
top 100 are doing only tells you a part of the
story. However, it is undeniably the dynamic part:
these 100 companies represent around half of all
global rental revenues and are at the forefront of
developing the rental market worldwide.
At its most basic level, the list tells us that
rental companies are growing quickly – the top
100 revenues are up over 20%, with the top 5
increasing by almost a third. This isn’t just telling
us that revenues are growing, it also illustrates the
impact of consolidation. Higher revenues in the
top five, for example, reflect Sunbelt’s acquisition
of NationsRent (and also our decision to consider
Ashtead Group as a single entity).
There are also some immediate things to note
about the list: the Japanese presence is much
greater this year simply because we left out some
big companies last year, most notably Kanamoto.
There are 12 Japanese companies in the top 100
compared to 5 last year, and these 12 include some
interesting names, such as Komatsu and Hitachi,
who both have very big rental businesses
All change
Rank Company
07 06
1
1
United Rentals
Turnover Head Office
(€ million)
06/07 05/06
2465 1837
Greenwich,
Areas of
Operation
Type of
Rental
Company
USA, Canada, Mexico
Construction
equipment, tools
Construction
equipment, tools
696
Construction
equipment, tools
Construction
equipment, tools
455
Power, temperature
control and
compressor rental
Construction
equipment
Construction
equipment, tools
118
2
2
Ashtead Group
1612
840
Connecticut, USA
Leatherhead,
Surrey, UK
3
2
1250
1100
Scottsdale, AZ, USA USA, Canada, Mexico
4
3
RSC Equipment
Rental
Hertz Equipment
Rental Corp
1109
1195
Park Ridge,
New Jersey, USA
USA, Canada,
France, Spain
5
4
Aggreko
802
607
Glasgow, Scotland
Worldwide
6
9
Aktio Corp
553
466
Tokyo, Japan
Japan
7
8
Loxam
541
485
Chatenay
Malabry, France
8
16
Speedy Hire Plc
498
370
Merseyside, UK
France, Ireland, UK,
Germany, Spain,
Belgium, Switzerland,
Luxembourg
UK
9
14
Ramirent
498
381
Helsinki, Finland
10
10
Nikken Corp
477
466
Tokyo, Japan
11
18
Home Depot Rentals 467
338
Atlanta, Georgia
12
12
Coates Hire Ltd
466
447
Sydney, Australia
13
11
Nishio Rent All Co
458
452
Osaka, Japan
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UK, US, Canada,
Singapore
Construction
equipment, tools
Fin, Sw, No, Den, Ru,
Construction
Est, Lat, Lith, Pol,
equipment, tools
Hun, Ukr, Cz
Japan, USA, UAE (Dubai) Construction
equipment
USA, Canada, Mexico
Construction
equipment, tools
Australia, UK, Indonesia Construction
equipment, tools
Japan, Malaysia,
Construction
Thailand, Singapore,
equipment
Korea
Number of
Depots Staff
697
362
276
375
Contact Details
12000
+1 203 618 7318
www.unitedrentals.com
10197
+44 (0)1372 362300
www.ashtead-group.com
Combines A-Plant and Sunbelt Rentals.
5000
+1 480 905 3300
www.rscrental.com
–
+1 201 3072000
www.hertzequip.com
Approximately 10% of revenues from Europe.
2200
+44 141 225 5900
www.aggreko.com
Acquired GE Energy Rentals.
2407
+81 3 6854 1413
www.aktio.co.jp/en/
3000
+33 1 41 87 80 00
www.loxam.fr
Excludes Laho Equipement acquisition.
+44 01942 720 000
www.speedyhire.plc.uk
Excludes acquisition of Hewden’s Tool Hire division.
288
3016
+358 20 750 200
www.ramirent.com
361
3800
226
2509
1202
6000
190
2000
259
2004
+81 3 5512 7311
www.rental.co.jp
Owned by Mitsubishi Corp.
+1 770 433 8211
www.homedepot.com
+61 2 9701 3308
www.coates.com.au
+81 6 6241 0240
www.nishio-rent.co.jp
IRN100 2007-2011
5
IRN-100
2007
The Japanese and US rental giants had a steady 2007, but
it was the bigger European companies who made the running.
Murray Pollok reports on the latest IRN-100 survey.
Euro power
T
he same four rental companies, in the same
order, are at the top of this year’s IRN-100, but
that doesn’t mean that nothing has changed
from last year.
Distil the hundreds of numbers on the following
pages, and you come up with some inescapable
broad conclusions: Japanese and US rental
companies grew at a modest rate last year, while
the Europeans were rapidly expanding through
acquisitions and Greenfield openings.
Of the fifteen companies who grew by over 20%
in 2007 (see Table 9), 11 were European and just two
were from the US (and one of these is a party and
events player, Classic Party Rentals).
It was the big national and multi-national
European rental companies who grew most rapidly
in 2007, companies like GAM and HUNE of Spain,
Loxam, Ramirent, Cramo, Boels, Speedy Hire and
Rank Company
08 07
1
1
United Rentals
Turnover Head Office
(€ million)
07/08 06/07
2383 2465
Greenwich,
Areas of
Operation
Type of
Rental
Company
USA, Canada, Mexico
Construction
equipment, Tools
Construction
equipment, tools
2
2
Ashtead Group
1522
1612
Connecticut, USA
Leatherhead,
Surrey, UK
3
3
1212
1250
Scottsdale, USA
USA, Canada, Mexico
4
4
1055
1109
5
-
RSC Equipment
Rental
Hertz Equipment
Rental Corp
Algeco Scotsman
1000
260
Park Ridge,
New Jersey, USA
Baltimore,
Maryland, USA
USA, Canada,
France, Spain
Canada, USA, Mexico,
Europe
6
5
Aggreko
937
802
Glasgow, Scotland
Worldwide
7
7
Loxam
747
541
Chatenay Malabry,
France
8
12
Coates Hire Ltd
678
466
9
9
Ramirent
634
498
10
8
Speedy Hire Plc
629
498
11
6
Aktio Corp
580
553
12
-
Finning International 542
579
(inc Hewden)
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UK, US, Singapore
Construction
equipment, tools
Construction
equipment, tools
Portable
accommodation,
storage units
Power, temperature
control and
compressor rental
Construction
equipment, tools
Number of
Depots Staff
670
636
473
360
200
124
Contact Details
10400
+1 203 622 3131
www.unitedrentals.com
9536
+44 (0)1372 362300
www.ashtead-group.com
Combines A-Plant and Sunbelt Rentals
5000
+1 480 905 3300
www.rscrental.com
+1 201 307 2000
www.hertzequip.com
5500
+1 410 931 6066
www.willscot.com
2900
+44 141 225 5900
www.aggreko.com
France, Ireland, UK,
541
4400
+33 1 41 87 80 00
Germany, Spain,
www.loxam.fr
Belgium, Switzerland,
Luxembourg, Denmark
Includes Laho Equipement and DNE-JJ acquisitions
Sydney, Australia
Australia, UK,
Construction
180
2314
+61 2 9701 3300
Indonesia
equipment, tools
www.coates.com.au
Includes the National Hire rental business now jointly branded as Coates Hire
Helsinki, Finland
Fin, Sw, No, Den, Ru,
Construction
310
3642
+358 20 750 200
Est, Lat, Lith, Pol,
equipment, tools
www.ramirent.com
Hun, Ukr, Cz, Slov
Newton-le-Willows, UK & Ireland
Construction
530
5000
+44 0845 601 5129
UK
equipment, tools
www.speedyhire.co.uk
Year to 31 March 2008. Includes Hewden Tool Hire business acquired mid-2007
Tokyo, Japan
Japan
Construction
322
2610
+81 3 6854 1413
equipment
www.aktio.co.jp/en/
Vancouver, Canada Canada, UK, Chile,
Construction
149
2760
+1 604 331 4900
Uruguay, Bolivia,
equipment, tools
www.finning.com
Argentina
Includes Hewden business in the UK (see also European top 50 for Hewden figures.)
IRN100 2007-2011
13
IRN-100
2008
IRN-100
24
2009
Fluctuating currency values have had a big impact on
the figures in this year’s main table, with UK companies
suffering as a result of the 25% devaluation of £ Sterling
against the Euro (our chosen currency for the list).
Rank Company
09 08
22
Turnover
Head Office
(€ million)
08/09 07/08
Mediaco Lifting
320
300
Marseille, France
=23 24
Komatsu Rental
301
297
Yokohama, Japan
=23 25
H&E Equipment
Services
301
280
23
Areas of
Operation
Type of
Rental
Company
Number of
Depots Staff
Contact Details
France, North & West Cranes, construction 70
2000
+33 4 91 038191
Africa, Worldwide
equipment
www.mediaco.fr
French crane rental company active throughout Europe and also in North Africa. The company also has a small aerial platform rental business, including some very large truck
mounted aerial platforms. Acquired French competitor Group Sogecofa in summer of 2008. Led by Christian-Jacques Vernazza, Group Mediaco has grown from six depots and
60 cranes in 1990 to a €300 million business.
Japan
Construction
equipment
Japanese manufacturer Komatsu runs a sizeable rental business in Japan. This is the only rental business it owns.
177
1510
+81 45 274 3337
www.komatsu-rental.co.jp
Baton Rouge,
USA
Construction
64
1700 (approx) +1 225 298 5200
LA, USA
equipment
www.he-equipment.com
Based in Baton Rouge, Louisiana, H&E Equipment Services has a very large construction equipment sales operation, and is also heavily involved in crane sales. Rental represents
around a third of all revenues. Around 30% of its ‘rental turnover’ is sale of used rental fleet.
25
NEW
Harsco Infrastructure 300 (Est)
(Patent & SGB)
NEW
Camp Hill, PA, USA
26
22
Liebherr-Mietpartner 295
309
Ludwigshafen,
Germany
27
21
NES Rentals
315
Worldwide
Scaffolding
-
-
+1 717 763 7064
www.harsco.com
Harsco Infrastructure is the division of Harsco Corp that includes the Patent, SGB and Hunnebeck scaffolding and formwork businesses. Long term goal is to replace existing brands
with the Harsco Infrastructure name. Company aims to expand further internationally, including the Middle East, as well as growing its US scaffolding business. Revenue figure given
here is estimated value for North America and the UK only.
Germany, France, Italy, Construction
151
335
+49 6237 40060
Spain, Austria,
equipment
www.liebherr.com
Switzerland, UK
German manufacturer Liebherr rents its own equipment under the Liebherr Mietpartner name in Germany, France, Italy, Spain and the UK. Rental businesses either run by
Liebherr subsidiaries or by distributors. Product range is dominated by heavy equipment and includes some non-Liebherr equipment such as compaction machines.
282
Chicago,
USA
Construction
75
1200
+1 800 NES RENT
IL, USA
equipment
www.nesrentals.com
NES Rentals has in recent years sold some of its specialist rental divisions and focused entirely on high-reach rentals, mainly aerial work platforms. The company is run by several
ex-United Airlines executives, including CEO Andrew Studdert.
TABLE 2
IRN-100
Regional Trends
CONTINENT
Europe
N America
Japan
Australia
Africa
S E Asia
IRN100 2007-2011
NUMBER OF COMPANIES
2008
2007
2006
55
27
12
4
1
1
56
26
13
4
1
0
55
27
12
5
1
0
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IRN-100
40
2010
Rank Company
10 09
32
Turnover
Head Office
(€ million)
09/10 08/09
NES Rentals
27
240
282
Areas of
Operation
Chicago, IL, USA
Type of
Rental
Company
USA
Construction
equipment
Number of
Depots Staff
77
1100 (Est)
Contact Details
+1 800 NES RENT
www.nesrentals.com
US rental company that used to be a generalist but has turned itself into an aerial platform specialist.
33
=40
HKL Baumaschinen
239
210 (Est)
34
30
Mobile Mini Inc
233
268
35
32
Pon Material
Handling
230 (Est) 252
36
=42
Boom Logistics
210
206
37
17
Select Plant Hire
208
421
38
=36
ADCO
200
220
Ratingen,
Germany
German company that rents toilets worldwide under Dixi and Toi Toi brands.
Europe, USA,
Southeast Asia
Portable toilets
203
2150
+49 2102 8520
www.adco.de
39
46
MVS Zeppelin
GmbH & Co. KG
199
194
Germany
Construction
>100
equipment, tools,
party/events, others
700
+49 (0)800 1805 8888
www.mvs-zeppelin.de
Hamburg,
Germany, Poland,
Construction
140
Germany
Spain
equipment
Germany’s biggest rental company, with a large used equipment business. It has operations in Spain and Poland as well as Germany.
1200
+49 40 538 020
www.hkl-baumaschinen.de
Tempe,
USA, Canada,
Portable storage
118
1475
+1 480 894 6311
AZ, USA
UK, Netherlands
& accommodation
www.mobilemini.com
US portable storage and accommodation renter with activities mainly in North America. Its has a €41 million revenue business in Europe, mainly in the UK.
Construction
53 (Est)
+1 713 914 8670
equipment,
www.eqdepot.com
aerial platforms,
www.gunco.nl
forklift trucks
Pon is the Netherlands company that is also Caterpillar dealer several European countries. Its rental businesses in US include Equipment Depot, Portman Equipment & LeveeLift, and in
Europe its owns Gunco, Milcon & HDW.
Houston, US
US, Mexico, NL,
Bel, Fr, Ger, Lux,
Czech
Melbourne,
Australia
Cranes,
45
1300 (Est)
Australia
aerial platforms
Crane rental company that also owns an aerial platform business, Boom Sherrin. The company was subject to takeover speculation in June 2010.
Dartford, UK
+61 3 9864 0200
www.boomlogistics.com.au
UK, Germany,
Middle East, Australia
Construction
16
920
+44 01322 296200
equipment, tools,
www.selectplanthire.com
tower cranes
Select is the rental subsidiary of Laing O’Rourke. Much of its revenues are with its parent company and its lower sales in 2009 reflected the downturn in construction in the UK and the
Middle East.
Garching (Munich),
Germany
A Cat Rental Store business and owned by German Cat dealer Zeppelin.
FASTEST GROWING COMPANIES IN 2009
35%
Mills Rental
21%
MCC Plant Hire
Solaris
15%
Wacker Neuson
15%
Ainscough
13%
Sarens
13%
10%
Mateco
9%
Riwal
8%
Kennards Hire
6%
Ameco
0
5
10
15
20
25
30
35
PERCENTAGE GROWTH IN REVENUES 2008-2009 (Currency converted)
IRN100 2007-2011
40
in the 10-15% range. By our reckoning, only 14 of
this year’s top 100 companies actually saw revenue
growth last year.
Who was growing? Well, top of the league was
Mills Rental, which saw a 35% increase in 2009,
while fellow Brazilian company Solaris was the third
fastest mover with a 15% rise. Number two was
MCC Plant Hire, which is based in South Africa and
operates throughout Sub-Saharan Africa. MCC only
rents larger equipment (10 t and above) and has in
the past few years been renewing and expanding its
fleet on the back of a steadily growing market.
Two European crane rental companies managed
growth over 10% – Ainscough in the UK and Sarens
of Belgium – and access renter’s Mateco and Riwal
also managed to boost revenues last year. Wacker
Neuson increases its German and eastern European
rental business by 15% (largely by increasing
volumes at its existing depots) and Fluor Corp’s
US-based rental subsidiary Ameco managed to
expand revenues by around 6%. Touax, the French
company that rents mobile accommodation units
as well as sea containers and railcars, boosted its
accommodation business by 6%.
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