Ashtead Group purchases Pride Equipment for $279 millionStaff Writer | April 3, 2017
Equipment hire firm Ashtead Group said Monday it has acquired New York-based Pride Equipment Corp for a cash payment of $279 million.
Acquisition Pride specialises in aerial work platforms
"This acquisition further enhances Sunbelt's position in the important New York City market
" Pride's focus on aerial equipment is complementary to Sunbelt's capabilities in a broader range of smaller and medium size equipment and there will be significant opportunities to cross-sell to the enlarged customer base," said Geoff Drabble, chief executive of Ashtead.
"This acquisition is consistent with our long-term strategy to take advantage of structural growth opportunities through both organic investment and bolt-on acquisitions.," added Drabble. ■