Volvo Rents Acquires First Locations in Puerto Rico
SHIPPENSBURG, Pa. – In 2011, Volvo Rents expanded its presence nationally, acquiring more than 50 companies in the United States, as well as internationally, as the brand acquired six new locations in Canada. The brand recently continued its international expansion with its most recent acquisition of Casco Rentals, a division of Casco, Inc. and Encar Rentals, Inc. in Puerto Rico.
The new locations are in Toa Baja and Lajas, Puerto Rico, making them the first Volvo Rents stores in the country.
“Not only in the U.S., but on a global level there is an undergoing and unprecedented shift from buying equipment to renting,” said Mike Crouch, Vice President of Business Development for Volvo Rents, noting that construction equipment rental revenue grows an average of seven percent annually. “This puts us in a very favorable position as we continue to expand our footprint in various global marketplaces.”
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.
“Contractors who may have purchased equipment in the past are more likely to rent today. Contractors are being financially prudent. They either don’t have access to capital, or if they do they are deciding that buying equipment isn’t the best use,” added Crouch.
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.