United Rentals Inc. (NYSE: URI), Stamford, CT, has agreed to acquire NES Rentals Holdings II Inc., Chicago, IL, for $965 million.
NES, with 2016 sales of $369 million, has 73 branches and 1,100 employees, with a concentration in the eastern half of the United States.
The addition of NES's branch footprint will increase the company's density in strategically important markets, including the East Coast, Gulf States and the Midwest.
United Rentals also reported sales for 2016 of $5.7 billion, a 0.9 percent decrease from 2015. Rental sales decreased 0.2 percent. Profit decreased 3.2 percent to $566 million.
For the fourth quarter, sales were $1.5 billion, flat compared to the same period a year ago. Profit was $153 million, down 9.5 percent.