August 19, 2011 // Franchising.com // Asheville, NC – Volvo Rents announces the acquisition of WED, LLC, a single location construction equipment rental company based in Oklahoma City, Oklahoma.
Previously co-owned by Volvo Rents franchisees David Evans, Max Weldon and David Darby, the center is located at 8003 S. Eastern Avenue in Oklahoma City.
Anchored by an increase in local construction spending that is projected to total more than $14.5 billion between 2012 and 2016, Volvo Rents is looking to grab a bigger piece of the construction equipment rental pie that is currently up for grabs in Oklahoma City. To capitalize on the economic upturn, Volvo Rents is embarking on a new course, where it will not only operate a franchise network of rental stores, but also manage and grow a network of company-owned stores.
"Since the beginning of 2010 when we initiated our relationship with Volvo Rents, we have been impressed by the company's unwavering commitment to building a culture of service and local decision-making," said Evans. "Volvo Rents is embarking on a significant expansion, and our team is looking forward to contributing to their growth."
In addition to Volvo Rents' expanding line of Volvo compact equipment – such as backhoe and skid steer loaders, compact wheel loaders, compact excavators and compaction equipment – the rental centers carry a comprehensive line of essential equipment and tools for the construction, commercial, industrial and homeowner markets. The focus is on daily, weekly and monthly rentals.
"WED, LLC's commitment to outstanding customer service and local decision-making has enabled them to assemble an excellent team that is fully committed to providing a VIP customer experience," said Mike Crouch, Vice President of Business Development for Volvo Rents. "Both Davids, Max and the entire Oklahoma City team will play significant roles in the further expansion of Volvo Rents in the state of Oklahoma."
Inquiries can be directed to Mike Crouch via Michael.Crouch@Volvo.com
Volvo Rents, a wholly-owned subsidiary of the Volvo Group, operates ~70 rental stores in North America. The company operates a network of company-owned rental stores and franchised rental stores in North America. Each of the North American rental centers offers a comprehensive line of essential equipment for the construction, commercial and industrial markets, as well as an extensive line of Volvo compact excavators, compactors, wheel loaders, backhoe loaders, compaction equipment, and skid steer loaders. For more information, visit www.volvorents.com.
The Volvo Group, one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services, and is one of the world's leading producers of heavy-diesel engines (9-18 liter). The Group also provides complete solutions for financing and service. The Volvo Group, which employs about 100,000 people, has production facilities in 19 countries and sells their products in more than 180 markets. The Volvo Group is a publicly-held company headquartered in Gothenburg, Sweden. Volvo Shares are listed on NASDAQ OMX Nordic Exchange Stockholm and are traded OTC in the US.
Volvo Rents has been building a worldwide system of franchised rental businesses providing small-to-medium sized construction equipment and an extensive inventory of tools for virtually every need in the commercial, industrial, and consumer/homeowner mark