United Rentals, Inc. (URI), a prominent equipment rental company, has formally agreed to acquire three affiliates - Yak Access, LLC, Yak Mat, LLC, and New South Access & Environmental Solutions, LLC – from the private equity firm, Platinum Equity. The acquisition, valued at roughly $1.1 billion, is projected to instantaneously enhance the company's earnings per share and free cash flow.
Yak, a corporate group based in Hattiesburg, Mississippi, is recognized as one of the biggest providers of temporary roadway and ground protection solutions in the US. With a comprehensive network spanning more than 135 distribution points and operation bases in over 40 states, it holds significant market presence.
United Rentals anticipates considerable potential for expansion in the matting business over the forthcoming years. This growth is expected to be fuelled by promising secular opportunities within the energy and power sectors, supported by both public and private investments.
