Volvo Rents announces the acquisition of Max Equipment Rentals, a two-location construction equipment rental company with stores in Oceanside and Perris, California.
The move comes two months after Volvo Rents’ acquisition of another Southern California-based company, SoCal Rental Equip Rent, and brings the company’s statewide presence to a total of seven rental centers.
It also comes on the heels of a forecast by economists at IHS Global Insight that says California will lead the pack in a nationwide construction recovery through 2016. According to IHS stats, California will have the most construction dollars spent ($723 billion); will have the largest gain in yearly spending dollars ($76.40 billion); and have the third highest annual average percentage gain (15.6%).
“California’s economy is growing again, and will see strong economic growth over the near- and long-term, translating into greater construction activity,” said Mike Crouch, VP/business development for Volvo Rents. “The acquisition of Max Equipment Rentals is a strategic move that will strengthen our presence in California and puts us in a favorable position to meet what will undoubtedly translate into a growing demand for construction equipment rental.”
"This transaction provides a long-term bridge toward a successful future for both the Oceanside and Perris stores," said Bob McDaris, who co-founded Max Equipment Rentals in 2000. “Volvo Rents’ culture of customer care and commitment to local decision-making offers great opportunities for our customers and team members. We look forward to working with them in this endeavor and beyond."
Moving forward, McDaris will serve as Volvo Rents’ Southwest Division Sales Manager. Co-founder Mason Bailey will remain in a consultancy role for a short time.
Source: Volvo Rents