December 08, 2011 // Franchising.com // SHIPPENSBURG, Pa. – Volvo Rents announces the acquisition of Richardson Equipment Company, LLC (R-Quip Equipment Rentals), a two-location construction equipment rental company based in Kansas, with stores in Wichita and Pittsburg.
This is the latest move as part of the company’s recent surge of more than 50 acquisitions in the last 12 months, lifting its North American total to more than 88 stores. The new Wichita and Pittsburg Volvo Rents locations are the first for the company in the state of Kansas.
“We believe there is tremendous opportunity in the market, and specifically in the state of Kansas,” said Mike Crouch, Vice President of Business Development for Volvo Rents. “Our global presence brand, coupled with the growing demand for construction equipment rental, allows us to look to the future with great enthusiasm.”
While construction activity has declined from mid-2000 levels, the heavy equipment rental business is growing. Crouch noted that he sees “a secular shift” from contractors renting about a third of their equipment to leasing 50 percent or more, adding that he believes the trend will continue to accelerate in the coming year.
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 center carries 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.
”We founded this business nine years ago with a core belief that our industry is about service and commitment to our customers – not just about equipment,“ said Bob Richardson, former owner of R-Quip Equipment Rental. “In our industry, it’s easy to provide equipment but it’s hard to stand by your customers and give them the quality they deserve at fair price. However, we have accomplished this for our customers and built lasting relationships. Volvo Rents holds to those same beliefs and values, which makes this deal a good fit. As part of Volvo Rents, our customers have access to a full line of fleet above and beyond what we could previously provide. Obtaining fleet in today’s economy is difficult, however, with the power and backing of Volvo Rents, access to new fleet will be easier than ever – which is great for our customers.”
Richardson will remain with the company in a consulting role for Volvo Rents.
Inquiries can be directed to Mike Crouch via Michael.Crouch@Volvo.com.
Volvo Rents, a wholly-owned subsidiary of the Volvo Group, operates 88 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.
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