United Rentals
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| Public | |
| Traded as | : URI S&P 500 component |
| Founded | 1997 |
| Headquarters | Stamford, Connecticut, US |
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Key people
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Michael J. Kneeland, CEO William B. Plummer, CFO Matthew Flannery, COO |
| Products | Construction & Industrial Rentals and Sales |
| Website | http://www.ur.com |
United Rentals, Inc. : URI) is the largest equipment rental company in the world, with over 880 rental locations throughout the United States and Canada. The company was founded in 1997 by Bradley Jacobs and seven others, and its customer base includes construction and industrial companies, utilities, municipalities, and homeowners. In addition to equipment rentals, the company offers new and used equipment sales, safety training, and 24/7 equipment service support.
United Rentals is headed up by Michael J. Kneeland (President & CEO) and William B. Plummer (Executive Vice President & CFO). Total annual revenue in 2008 was $3.3 billion, including $2.5 billion in equipment rental revenue. Total revenue in 2013 was just shy of $5 billion. United Rentals holds about a 13 percent share of construction and industrial equipment rentals in North America. Having the largest fleet of rental equipment in the world, United Rentals employs more than 12,000 employees, servicing over 300 metropolitan areas, 49 states, and ten Canadian provinces.
The company has five main divisions: General Rentals & Aerial, Power & HVAC, Trench Safety, Industrial Tool Solutions, and Pump Solutions. While the general rental branches are the most prolific and yielding for the company, the other divisions are increasingly a larger portion of United's revenue.
United Rentals operates through two business segments:
General Rentals: United Rentals offers construction and industrial equipment rentals, as well as homeowner equipment and tool rentals. This also includes aerial equipment, and United Rentals offers North America’s largest rental fleet of aerial work platforms.
Specialty Products (Trench Safety, Power and HVAC, Tool Solutions, Pump Solutions): This segment includes specialty equipment rentals for underground construction (plus related training services), temporary power, climate control, jobsite tool rentals and management, and pump equipment. Primary customers for this include infrastructure contractors, industrial companies, municipalities and the military.
In 2004, the United States Securities and Exchange Commission announced it was conducting an inquiry into the accounting records of the company. A class action lawsuit was filed on behalf of United Rentals' stock and securities holders to allege its earnings manipulation. In August 2005, United Rentals terminated its president and chief financial officer, John Milne, for refusing to respond to questions from a special committee of its board of directors, which was reviewing the SEC inquiry.
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