VE Partners announced on 20 December 2023 the successful sale of EQIN | Indu-Tools Group to United Rentals International B.V., a wholly owned subsidiary of United Rentals Inc. (United Rentals). United Rentals is the world’s largest equipment rental company with a network of 1,500 rental locations in North America, 15 in Europe, 23 in Australia and 19 in New Zealand and is listed on The New York Stock Exchange (NYSE: URI).
By acquiring EQIN in 2020 from Stork, VE Partners entered the industrial rental sector in the Netherlands, Belgium, and Germany. After being carved out successfully, emphasis was placed on further professionalizing and growing the company. In order to further strengthen the business and footprint, EQIN merged in May 2023 with industry peer Indu-Tools, active in the Netherlands, Belgium and France.
In October 2023, German ToolsRent24 was acquired, broadening its access to the German market. Together, under the name EQIN | Indu-Tools Group, the specialty rental companies are the largest industrial rental company in Western Europe.
Even though the merger between EQIN & Indu-Tools only took place in May 2023 and the integration process was just started, discussion with URI on a potential acquisition started. The attractive valuation and strategic fit convinced VE Partners to enter a sale process. After a successful due diligence process, the transaction was signed and closed on 20th of December 2023.