United Rentals Closes $780 Mln Acquisition Of National Pump

(RTTNews) - Equipment rental company United Rentals Inc (URI) said Tuesday it has completed its $780 million acquisition of National Pump in a deal that makes it the second largest provider of pump rentals in North America.

Stamford, Connecticut-based United Rentals said the deal comprised about $765 million in cash, funded through newly issued unsecured debt, and about $15 million in stock.

The deal structure also provides for additional cash consideration based on the achievement of certain financial targets.

The assets acquired include 37 branch facilities operating in the United States and Canada.