United Rentals Nets National Pump: Company venturing into pump rental market, also nabs GulfCo

摘要

United Rentals Inc. is acquiring National Pump, the second largest specialty pump rental company in the U.S., for US$780 million. The deal, which is subject to federal regulatory review, is expected to close early in the second quarter. The move puts United Rentals into the heart of the rapidly growing pump rental market, which has seen strong demand from energy and petrochemical companies thanks to the shale gas boom. About half of National Pump's revenue comes from upstream oil and gas end users.