18th May 2005 11:25
Ashtead Group PLC18 May 2005 Ashtead Group plc 18th May 2005 ASHTEAD GROUP PLC ACQUISITION Ashtead Group plc announces that its US subsidiary, Sunbelt Rentals, hasacquired the Southern Florida operations of HSS RentX for a consideration ofapproximately US$1.7m subject to adjustment dependent on asset verification atclosing. Turnover of these operations was approximately US$4.5m in the year to28 February 2005. Sunbelt currently operates seven profit centres in the Miami, Fort Lauderdaleand West Palm Beach markets. The acquisition, which will add a further fiveprofit centres, will largely complete the process of clustering these markets. In addition the Group expects to acquire one of the properties from which thebusiness operates for a further consideration of approximately US$0.8m subjectto completion of satisfactory environmental inspections. Contacts: Cob Stenham Non-executive chairman 020 7299 5562George Burnett Chief executive )Ian Robson Finance director ) 01372 362300 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ashtead Group