7th Oct 2005 09:29
6 October 2005 ASHTEAD GROUP PLC SUNBELT ACQUIRES ITS 10TH RENTAL STORE THIS YEAR Ashtead Group plc, the equipment rental group serving the US and UKconstruction, industrial and homeowner market, announces that its USsubsidiary, Sunbelt Rentals Inc, has recently acquired Lewis Brothers Inc, theoperator of a well established rental store serving the Indianapolis, Indianamarket for a consideration of ‚£3.4 million.This acquisition further extends Sunbelt's presence in the Indianapolis areaand follows earlier acquisitions in Florida, Tennessee, California and Nevadaand recent greenfield openings in Phoenix, Houston and Maryland to make a totalof 13 new stores opened or acquired in the current financial year.The aggregate consideration for the acquisitions this year is US$29 millionwhich has been financed from existing credit facilities.Contacts: Cob Stenham Non-executive chairman 020 7299 5562 George Burnett Chief executive ) ) 01372 362300 Ian Robson Finance director ) Brian Hudspith Maitland 020 7379 5151 ENDASHTEAD GROUP PLCRelated Shares:
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