Volvo Rents, a Shippensburg, Pa., provider of small- to medium-sized construction equipment, has acquired FRED Rents, a two-location construction equipment rental company with stores in Madison and Neenah, Wis.
The move comes as many equipment rental companies such as Volvo Rents continue to see a “secular shift” in North America as customers – including contractors, construction businesses and homeowners – recognize the advantages of the fixed cost of renting, which also covers maintenance, storage, delivery and more. According to the American Rental Association, the continued annual growth in rental revenue is forecasted to reach $53.1 billion by 2016.
“There is a real opportunity for us to gain further market penetration by aggressively selling the value of equipment rental at this point in the economic recovery," said Mike Crouch, vice president of business development for Volvo Rents.
In addition to expanding its line of compact 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.
“Volvo Rents is a solutions-based company that provides services that solve immediate issues when people are dealing with capital availability and downsizing of owned fleet due to economic reasons,” said Jeffrey Corcoran, who co-founded FRED Rents in 2002. The company offers 24-hour service, every day of the week.
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