Friday Roundup: Renta acquisition | Ashtead growth | European Rental Week theme

As we turn the corner into September, we see news in equipment rental centering on expansion on several fronts, as well as a focus on the future, durng the week that was Aug. 29-Sept. 4, 2024.

For starters, Renta Group has acquired modular building specialist Caro Design. Headquartered in Brzezówka, Poland, Caro has eight employees and annual revenues of PLNzł12 million (€2.7 million).

The company mainly serves construction and industrial customers in the southeastern part of Poland, while its fleet comprises of more than 2,000 site modules, including storage containers, office containers and modular buildings.

According to Renta, the acquisition represents a strategic step in its goal to expand its product offering in Poland and to build a full-service offering in the country.

Ashtead Group said its strategy of growing its specialty businesses and broadening end markets has seen it outperform the market.

Speaking of expansion and growth, Ashtead Group, owner of Sunbelt Rentals in the US, Canada and the UK, has said its strategy of growing its specialty businesses and broadening end markets has seen it outperform the market.

In its financial results for Q1 of 2024, the company said its specialty segment grew by 17% for the second year running. By comparison, its general tools businesses grew by 3%.

Revenue for the group was $2.7 billion (€2.4 billion), up by 2% on 2023, while rental revenue was up by 7% to $2.5 billion (€2.2 billion) for the quarter.

Looking at the big picture for the industry, the European Rental Association (ERA) says European Rental Week this year will focus on the theme of “Working in Rental for a Sustainable Future.” 

Taking place ‎from Oct. 14-20, 2024, the event is dedicated to the promotion of rental across Europe and, according to the ERA, will provide a framwork for companies in the industry to have a bigger impact.

“We encourage all stakeholders to join us in these efforts and contribute to the growth and recognition of the rental sector during this important week,” the ERA said.

Another group, made up of UK-based associations, has penned a letter to the Chancellor of the Exchequer calling on the Government to increase the full expensing allowance for short-term rented plant in the construction sector.

Under current rules, plant rented with an operator qualifies for full expensing relief as it is considered a service. However, plant rented without an operator does not qualify due to restrictions on assets deemed as ‘leased’.

A joint letter from the Construction Equipment Association (CEA), Construction Plant Hire Association (CPA), and Hire Association Europe (HAE) to Chancellor Rachel Reeves argues that increasing the the full expensing allowance for short-term rented plant in the construction sector brings a net benefit of £26 million to the Exchequer and would boost the capacity of the National Infrastructure Pipeline and housebuilding initiatives.

On a lighter note, HKL Baumaschinen has been announced as a new permanent partner of Germany-based football club Hamburger SV.

HKL Baumaschinen has been announced as a new permanent partner of Germany-based football club Hamburger SV.

The partnership, which is initially scheduled to run until the summer of 2025, will see the rental company place perimeter and banner advertising along the 57,000 capacity Volksparkstadion stadium during home matches.

The club plays in the 2. Bundesliga, the second highest division of professional football in Germany and will play 17 home matches this season.