12.12.2016

Sunbelt takes more BlueLine branches

Ashtead’s Sunbelt Rentals acquired the business and assets of four BlueLine Rentals general equipment locations in New Mexico and one in El Paso, Texas, last month for $27 million in cash.

The details of this transaction have been sparce and we missed the one line mention in the recent half year results announcement. It was only when going through the presentation slides that were made later that we spotted it.

This latest move follows an earlier acquisition of the Post Falls, Idaho branch of
BlueLine Rental for $4 million in cash.

Sunbelt is now close to having 600 locations in North America.
Meanwhile Blue line, which was Volvo Rents until sold to Platinum Equity in January 2014, changing its name to BlueLine in February of that year. Throughout 2014 and the first half of 2015 the company was highly acquisitive but now seems to be retrenching and divesting. All to the benefit of companies like Sunbelt.