Volvo Rents Midwest Growth Continues with Newest Acquisition
December 13, 2011 // Franchising.com // SHIPPENSBURG, Pa. – Volvo Rents announces the acquisition of Midwest Aerials and Equipment, Inc., a four-location construction equipment rental company with stores in St. Louis, Kansas City and Springfield, Mo. as well as one location in Bloomington, Ill.
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 80 stores. The new Bloomington, Ill. Volvo Rents location is the first for the company in the state of Illinois, while the Missouri locations will enhance the business’ presence in the state alongside the already established Springfield and Hollister, Mo. locations.
“Buying construction equipment requires tremendous capital outlay. A company might buy a piece of equipment for $50,000, but only need it for three months out of the year. We bring the equipment to them, pick it up and perform the maintenance so there’s no downtime. It’s also tax-deductible,” said Mike Crouch, Vice President of Business Development for Volvo Rents.
Crouch went on to say, “adding an Aerial Specialist to a full-line Rental Company sounds counterintuitive, but Dan Tumminello, Kevin Morrell, Dan Martino and Joe Alonzo have built such an energized and experienced team that the culture is truly an automatic and instant fit. We are fortunate to have their customer and jobsite knowledge in the Midwest as we continue to strategically grow our footprint.”
Tumminello, Alonzo, Martino and Morrell will remain active with the operations/management of the new Volvo Rents locations as well as with the further expansion of the brand in the Midwest.
“My partner, Kevin Morrell and I started the company from scratch in 1998. Our customers have always been number one and our team members are like a hard working family whose dedication to the customer has put us on the RER Top 100 list since 2003,” said Dan Tumminello, co-owner of Midwest Aerials. “Moving forward, we are all very excited about being part of Volvo Rents because we have a culture that is very comparable to Volvo’s culture. They also believe that the customer comes first and their company is run like an even larger family than ours. We are very excited about the additional fleet opportunities – adding dirt and other equipment to our aerial lift fleet – since that will add value for our customers. And that too, is what it’s all about.”
Dan Conway of The Focal Point Partners, LLC represented MAE in the transaction. Inquiries can be directed to Mike Crouch via Michael.Crouch@Volvo.com.
About Volvo Rents
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.