United Rentals Inc. in Greenwich has agreed to buy rival equipment rental company RSC Holdings Inc. for about $1.9 billion in cash and stock, The Associated Press reports.
United Rentals said Friday the deal is expected to accelerate its growth with industrial customers, lower costs and provide a less volatile revenue stream. It said it has already identified $200 million in potential cost savings.
The deal has been approved by both companies’ boards and is expected to be completed in the first six months of 2012.
United is the world’s largest equipment rental company, with a network of 541 rental locations in 48 states and 10 Canadian provinces. The company has about 7,500 employees.
RSC Holdings, based in Scottsdale, Ariz., has a network of 452 branches across 42 states and three provinces in Western Canada. It has more than 4,600 employees.
