Friday roundup: Tesya specialty acquisition | rental results | UK public health scandal

Photo: Getty Gallery via AdobeStock

Results, outlooks and acquisitions all made the headlines in the equipment rental industry in the week that was 14-20 November.

Starting in Italy, Tesya Group, the parent company of Cat Rental Store CGTE, acquired modular building specialist Strutture Srl.

Headquartered in Alessandria in the northwest of Italy, Strutture offers sales and rental of a range of prefabricated modules and containers, including temporary offices, changing rooms, classrooms, homes, canteens, sanitary units and event structures.

Tesya said the acquisition is part of its expansion strategy aimed at further strengthening the position of its Rental Service division, which has “long been developing new business lines to meet the demands of a rapidly evolving market.”

In the UK, Aggreko reported steady growth in its business during the first nine months of 2024, with underlying revenues up 13% to US$2.078 billion and operating profit 17% higher at $455 million.

The company reported 16% growth in North America to $784 million, led by work in petrochemicals, refining and construction. In Europe, revenue was up 11% to $428 million, while Latin American revenues rose by 32% to $324 million.

Report reveals “public health scandal” in the UK

Meanwhile, a new report has revealed that accidental death rates in the UK are at an all-time high and have risen by 42% over the last decade.

The ‘Safer Lives, Stronger Nation’ report, by RoSPA and Speedy Hire found that accidental deaths are now the second biggest killer of people under 40, taking more than 20,000 lives each year, with construction accounting for 37% of fatal workplace accidents.

Becky Hickman, chief executive at RoSPA, said the report unveils a “new public health scandal.”

Focusing on North America, the Canadian Rental Association (CRA) has forecast “sustained growth” in Canada’s equipment rental industry, with equipment rental revenue to rise by 7.6% in 2024, reaching $8.2 billion (€7.7 billion).

It predicts a further 6.8% increase in 2025, which CRA said aligns with economic improvements and sectoral growth.

It added that the industry has been bolstered by a steady economic environment and gradual improvements in construction and industrial activity, despite a modest real GDP growth of 1.1% in Canada’s economy.

Back in the UK, the Scottish Plant Owners Association said the recent UK government budget “has signalled the death of the plant hire industry in Scotland”.

The organisation said it feared that the budget will trigger a “catastrophic decline of the plant hire industry” and called for its members to lobby their local MPs.

Energy transition guidance for rental companies

Looking at Europe as a whole, the European Rental Association (ERA) is to launch a handbook on the energy transition in 2025 as part of a wider project on the subject. 

Describing the Energy Transition Project as a “significant step toward advancing decarbonisation of the rental industry”, the association said it aims to develop a “cohesive handbook offering numerous strategies to face existing challenges with the process of the energy transition towards electrification and alternative fuels solutions.”

Finally, entries for the 2025 European Rental Awards opened this week. Companies have until Friday 28 February 2025 to submit entries. Award judging criteria and the online entry form can be found at https://eurorentalawards.com/.