Volvo Rents Acquires DixEquip in Houston
Continues Texas-Sized Growth
SHIPPENSBURG, Pa. – Volvo Rents announces the acquisition of DixEquip, a single-location construction equipment rental company located at 4650 South Sam Houston Parkway East in Houston, Texas.
The move brings Volvo Rents’ statewide presence to a total of 12 rental centers and comes on the heels of a recent forecast by economists at IHS Global Insight that positions Texas as a leader in a nationwide construction recovery. According to IHS stats, Texas construction will spend $473 billion between 2011 and 2016, 8.9% of U.S. total expenditures in the six years.
Another forecast by McGraw Hill Construction says the growth of construction spending in the Greater Houston area alone is projected to total more than $23 billion in 2012 and more than $134 billion by the end of 2016.
“The U.S. is currently undergoing an unprecedented shift from buying equipment to renting, which puts us in a very favorable position as we continue to expand,” said Kelly Ryan, Division Manager for all of Volvo Rents’ Texas locations, noting that North American equipment rental industry revenue is expected to increase seven percent this year. “Our global and local presence, coupled with the growing demand for construction equipment rental, allows us to look to the future with great enthusiasm.”
In addition to Volvo Rents’ expanding line of Volvo compact equipment – such as backhoe and skid steer loaders, compact wheel loaders, compact excavators and compaction equipment – the more than 7,000 square foot rental center carries a comprehensive line of essential equipment and tools for the construction, commercial, industrial and homeowner markets. The focus is on daily, weekly and monthly rentals.
”We founded this business with a core belief that our industry is about service and commitment to our customers – not just about equipment,” said John Dixon, who founded DixEquip in 1998. “Volvo Rents is a trustworthy brand that holds to those same beliefs and values, which made the decision to sell an easy one. Our customers can be assured that Volvo Rents understands their needs and will exceed their expectations through a high level of service.”
Although store hours will be Monday-Friday, 7:00 a.m. to 5:00 p.m., the company offers 24-hour service, every day of the week.
About Volvo Rents
Volvo Rents, a wholly-owned subsidiary of the Volvo Group, operates more than 100 rental stores in North America. The company operates a network of company-owned rental stores and franchised rental stores in North America. Each of the North American rental centers offers a comprehensive line of essential equipment for the construction, commercial and industrial markets, as well as an extensive line of Volvo compact excavators, compactors, wheel loaders, backhoe loaders, compaction equipment, and skid steer loaders. For more information, visit www.volvorents.com.
The Volvo Group, one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services, and is one of the world's leading producers of heavy-diesel engines (9-18 liter). The Group also provides complete solutions for financing and service. The Volvo Group, which employs about 100,000 people, has production facilities in 19 countries and sells their products in more than 180 markets. The Volvo Group is a publicly-held company headquartered in Gothenburg, Sweden. Volvo Shares are listed on NASDAQ OMX Nordic Exchange Stockholm and are traded OTC in the US.