United Rentals to acquire National Pump for $780M

STAMFORD, Conn. (AP) — United Rentals says it's buying National Pump, the second-largest pump rental company in North America, for $780 million.

The deal will cost the Stamford, Conn.-based United Rentals $765 million in cash and $15 million in stock, plus up to $125 million more if certain financial targets are met. United Rentals will fund the deal with existing cash and an unspecified amount of new debt.

The purchase of the Beaumont, Texas, company is expected to close early next quarter.

National Pump rents equipment mainly to the oil, gas and petrochemical industries. It was founded in 2007.

United Rentals says it's the largest equipment rental company in the world. The company says the purchase is part of its strategy to expand specialty businesses.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Top Stories

  • Key Difference
    Danny O'Neil says the Seahawks have the NFL's single biggest difference maker

  • Week In Photos
    Incredible images from around the world this week
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.