Sunbelt Acquires Pacific High Reach

Sunbelt Rentals has acquired all the assets of California-based Pacific High Reach and Hardware Services, Incorporated. For $17.4 million under Section 363 of the Insolvency Code. This includes roughly 1,200 pieces of rental kit, from aerial lifts to generators, and approximately 35 cars. The deal received approval in insolvency court in November.

The company specialized in high-reach boom and forklift cars and was a major provider to decorating corporations at all southern California convention centers. The company successfully expanded its operations thru 2008, according to its professional banker Focal Point Stocks , but was adversely impacted by the recession in the economy in 2009 and early 2010. "The recession led on to significant pricing pressure as requirement for the firm's services dropped, encouraging the firm's call to file insolvency and hire Focal Point to explore strategic alternatives," Focal Point claimed in an announcement. Sunbelt Rentals ranked 3rd on Access, Lift & Handlers ' yearly Aerials20 listing. The list ranks North America's rental corporations by the amount of aerials in fleets. In 2011, Sunbelt had a projected 31,000 pieces of access gear.

For more information please visit: http://www.khl.com/magazines/international-rental-news/detail/item69306/Sunbelt-acquires-Pacific-High-Reach-and-Equipment-Services/