Great Plains Rent-All, an Ada and southeastern Oklahoma large equipment rental company, has been purchased by Volvo Rents.
A total of four stores located here, Ardmore, Duncan and Durant, were purchased in the deal, Volvo company officials said Thursday.
While new ownership may be the new normal, workers at the local store will remain the same, company officials said.
It marks the latest move as part of the company’s recent surge of more than 50 acquisitions in the last 12 months.
“While some of the projected rental revenue growth will come from increased demand as the construction industry recovers, the benefits of renting equipment have been magnified in today’s marketplace,” said Michael Crouch, vice president of business development for Volvo Rents. “This shift from buying equipment to renting puts us in a favorable position as we continue to expand our footprint in various markets across the country.”
“We have great admiration for the integrity of the Volvo Rents management team and their commitment to local decision-making. The company’s culture of taking care of its employees and customers made becoming part of Volvo Rents an attractive and easy decision,” said Bill Clark, founder of Great Plains Rent in 2001.
Clark’s two sons, Will and Garrett, will stay on with Volvo Rents as general manager and key account manager respectively.
Crouch emphasized the admiration as a mutual feeling. “They’re more than a first rate equipment operation,” he said of Great Plains Rent-All. “They’re good people who support a number of school, church, civic and charitable organizations with their time and finances.”
According to the latest data released by the American Rental Association, North American equipment rental industry revenue is expected to increase at least 6.9 percent in 2012 to total $33.5 billion at year end. The current five-year forecast calls for continued annual growth in rental revenue to reach a total of $53.1 billion by 2016.
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 centers carry 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.