07.05.2007

Coates to consider its options

Coates Hire, one of Australia’ largest rental companies which also has an offshore rental business in Aberdeen Scotland, has announced that it has appointed advisers to conduct a strategic review.

The move comes after the company received a number of takeover approaches, from private equity and other interested parties.

Vertikal Comment

Coates joins United Rentals in the USA in conducting such a review, with consolidation of the Australian rental market gathering speed, Coates needs to carefully consider what will be best for its shareholders.

Coates has been steadily acquiring bolt on rental businesses for the past few years. The pace of consolidation has stepped up a notch though as companies such as Boom Logistics and Hirepool in New Zealand step up the pace.