November 02, 2011 // Franchising.com // Asheville, NC – Volvo Rents announces the acquisition of SCS Equipment, Inc., a two location equipment rental company based in Texas, with stores in Wichita Falls and Dallas. The centers are located at 607 East Scott Avenue and 2430 Glenda Lane, respectively.
The acquisition comes at a time when 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.
Volvo Rents now operates 11 rental centers in Texas. The other stores are located in Arlington, Buda, College Station, Houston (2), McKinney, Pharr, Pflugerville and Seabrook.
Volvo Rents’ continued expansion throughout Texas comes on the heels of a new forecast by economists at IHS Global Insight that positions Texas as a leader in a nationwide construction recovery. According to IHS stats, Texas will have the second most construction dollars spent from 2011-2016; and have the third largest gain in yearly spending dollars between 2011 and 2016.
“I have great admiration for the integrity of the Volvo Rents management team and their commitment to local decision-making. The company’s culture of taking care of its employees and customers made becoming part of Volvo Rents an attractive decision for my family and my employees,” said Mike Price, who founded SCS Equipment in 1986. “Volvo Rents is embarking on a significant expansion and I looking forward to facilitating their growth.”
Price is expected to enter into a sales/consulting role with Volvo Rents for further development of the market area.
“Adding Dallas and Wichita Falls to our Texas strategy is one our key moves to date,” said Mike Crouch, Vice President of Business Development for Volvo Rents. “Mike Price built a strong organization and we are fortunate to have the SCS team now as part of Volvo Rents.”
In addition to Volvo Rents’ expanding line of Volvo compact equipment – such as backhoe and skid steer loaders, compact wheel loaders and compact excavators – the new centers will 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.
Gary Stansberry of Hageman, Stansberry & Associates represented SCS Equipment in the transaction.
Inquiries can be directed to Mike Crouch at 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.