US Pride Equipment now part of Ashtead Group.

The British industrial equipment rental group has announced today the New York based company purchase by its subsidiary.

Sunbelt Rentals, Ashtead’s American subsidiary has spent $279 million to acquire Pride Equipment Corporation, the well-known company for lift equipment and aerial platforms.

Ashtead’s CE, Geoff Drabble delighted: "This acquisition further enhances Sunbelt’s position in the important New York City market. Pride’s focus on aerial equipment is complementary to Sunbelt’s capabilities in a broader range of smaller and medium size equipment and there will be significant opportunities to cross-sell to the enlarged customer base. This acquisition is consistent with our long-term strategy to take advantage of structural growth opportunities through both organic investment and bolt-on acquisitions."

Pride equipment‘s co-founders, Charlie Noto and John Noto declared: " Facing probably the most exciting growth in the company’s history over the next few years, we felt it was time for Pride to align itself with a firm which has the resources and scale to allow the business to even better serve our customers’ ever-expanding needs. We feel extremely confident that Pride will continue to flourish within the Sunbelt organization."