RER

100
Rebound
It was a breakout year for the
majority of RER 100 companies.

24 MAY 2005
 100
Rebound
P
eople expected ’04 to improve, but not like this.
With an RER 100 increase totaling $1.09 billion,
a 12.2-percent year-over-year hike, the RER 100
and the rental industry as a whole exceeded
expectations dramatically in 2004.
Looking back at last year’s expectations, few
if any RER 100 executives expected as dramatic
a breakout year as 2004 turned out to be. For
example, Richard DiMarco of Admar Supply (No. 65) when By Michael Roth, RER
interviewed for last year’s RER 100 issue, said, “We see 2004 Additional reporting by
as a modest increase over 2003.” Admar enjoyed the same
increase of 12.2 percent as the 100 as a whole, and while that Brandey Chewning Smith
number will not be written up in the Guinness Book of World
Records, nor is it tops on the RER 100’s biggest increases, it’s and Erin Chapman, RER
certainly more than modest.
In April of 2004, Walter Berry, CEO of The Berry Cos.
(No. 75) told RER: “We haven’t experienced an uptick yet,
although we are starting to anticipate it and are ready for
it.” With a 21.9 percent rental volume increase for the year,
we’d have to say the uptick caught up with the Wichita,
Kan.-based Berry Cos. — which has branches in Colorado,

Looking back at last year’s

expectations, few if any RER
100 executives expected as
dramatic a breakout year as
2004 turned out to be.

Kansas, and Houston — during the last eight months of

the year.
Some of 2004’s increases were spectacular. Caterpillar
dealers Stowers Rents increased 42 percent, Holt Cat 38
percent, Canadian Caterpillar dealers Battlefield and
Finning jumped 34.5 and 32.3 percent respectively, and
Southern California Cat dealer Hawthorne Equipment
rose 30 percent. Gregory Poole Equipment enjoyed a
28.7-percent increase. Toronto’s Wajax leaped about 25
percent. Heavy earthmoving equipment rental specialist
Red Mountain Machinery jumped 29.4 percent in rental
volume; general rental company All-Star Rents jumped
25.3 percent; and Topp Portable Air, a heating and air
conditioning equipment house, reaped a 25-percent
increase. California aerial outfit California High-Reach
climbed 23 percent, as did general rental veteran PDQ
Rentals. Bay Area Caterpillar dealer Peterson Rents
enjoyed a 22-percent increase, pump manufacturer and
rental specialist Thompson Pump rose 20 percent in rental
WWW.RERMAG.COM 25
 100
Rebound
volume, as did Southern California earthmovers Ecco
Equipment and Phoenix-based Sunstate Equipment.
Demand was obviously a big factor in the dramatic rise,
but changes and adjustments made by rental companies
were key in putting them in the position to be profitable.
Three tough years forced rental companies to examine areas
of inefficiency and make improvements. Many companies
planned for the slowdown to continue, improving their
operational infrastructure. When business improved,
companies were prepared to run more efficiently because
of improvements they had made in computer software,
satellite technology and other facets of their operations.
“Non-residential demand improved, but the entire
industry just focused on driving better profits in their
business,” says Gerry Plescia, president and CEO of Hertz
Equipment Rental Corp. (No. 3) “Once everybody in the
industry became focused on that mindset, then right
behavior occurred. Fleet levels aligned with the demand.
Once you found that playing field, everybody’s mindset
was in the right place, service levels got better, fleets got
tighter, rates got better. People focused on getting better in
Most RER 100 companies
increased inventory expenditures
significantly in 2004 and plan to
continue to do so in 2005.
the business. Now the economy is getting better. After years
of consolidation and euphoria, there was the over-fleeting
and business slowed down. It took two or three years, but
people got down in the trenches and started doing the
right things in the way they ran their businesses.”
“We were the beneficiaries of a strong economy, pent-
up demand, a growing population, low interest rates and
governmental efforts to spur growth,” adds Bill Thompson,
CEO of Thompson Pump (No. 41), a manufacturer as well
as a rental company. “However, we did influence the results.
Our willingness to make substantial capital investments
in so many phases of the business, ranging from R&D to
employee training; from adding key employees to increasing
stock levels; from advertising and promotions to better
procedures and policies; all of these played a role in meeting
and exceeding our targets in 2004.”
When the downturn Plescia refers to began, many RER
100 companies, such as HERC, began re-examining their
business models. HERC, for example, took a more diverse
26 MAY 2005
approach, adding to its traditional contractor focus of larger
earthmoving and aerial items to include smaller equipment
and supplies. “We were never as diversified as we are today,”
adds Plescia. “We worked on that for the past three or four
years, and now it’s paying dividends for us.”
Industry pace-setter United Rentals also changed its mix by
entering into the contractor supply business. And NationsRent
(No. 6) changed its way of doing business by changing from
a rentals-only philosophy to a full-service model, including
taking on several lines as dealer-distributors.
Companies have improved efficiencies in a variety of
ways. For example, Bob Barrows of Wagner Rents (No. 25)
says even while reducing inventory, the company was able to
improve revenue, in large part because of the development
of a central dispatching system for trucking that improved
transport utilization. “We’d had too many instances where
we weren’t utilizing our own transportation as well as we
could,” Barrow says. “Being able to turn around equipment
faster, from the time it goes off rent to being back on the
ready line, was a great help for us.”
A lot of companies focused on computer software issues
in 2004. “We’re always thinking about IT
improvements,” says Bob Kendall, CEO
of Star Rentals, Seattle (No. 30). “We bill
some customers over the Internet now.
Some customers want it on e-mail, some
by fax, some still want it mailed, but we
are zeroing in on ways to do all those
functions more efficiently.”
RER 100 executives were nearly
unanimous in reporting improved
rental rates within their own companies
and in their market areas as a whole.
“Rental rates are dramatically better than
they were,” says Kendall. “There is some
isolated irrational pricing going on, but, for
example, reach forklifts and telescopic booms have improved
dramatically. Equipment is going up in price, so rental
companies are seeing that they have to get higher rates.”
“We’ve raised rates several times in the past 18 months,”
says Jamie Cowin, Cowin Equipment, Birmingham, Ala., (No.
66). “And it is very refreshing to see all of the public companies
focusing on rate control efforts and reporting significant
improvements. There are still problem areas, of course, but
rates are much improved from two to four years ago!”
Most RER 100 companies increased inventory
expenditures significantly in 2004 and plan to continue to do
so in 2005. United Rentals increased its capital expenditures
on fleet more than 70 percent in 2004 and plans another
major increase this year. NES (No. 5) recently announced it
invested $180 million into its fleet over the past 18 months.
Ahern Rentals (No. 13) expects to spend $80 million in
capex for fleet. And while smaller RER 100 companies will
spend less dramatic amounts, proportionally the increases
in fleet expenditures in 2004 were comparable and many
 100
Rebound
The 100 Hits $10B
Topping $10 billion for the
first time, the RER 100 in total Year Rental Revenue % Change
jumped 12.2 percent year over (in billions)
year, exceeding the expectations 2004 $10,075.6 +12.2
of many in the rental industry
2003 $8.98 +1
who predicted more modest
revenue increases. 2002 $8.86 -6
The increase was the best since 2001 $9.41 +7
2000 when the RER 100 jumped
25 percent, which followed the 2000 $8.79 +25
dramatic consolidation-driven 59- 1999 $7.01 +59
percent increase of 1999.
1998 $4.41 -1
1997 $4.45 —

expect to continue the trend in 2005.
This is certainly good news for manufacturers. However
manufacturers have had some other problems that may
affect the RER 100’s performance and the industry as a
whole. The scarcity and increases in the price of fuel have
exacerbated already lengthening lead times because of
increased demand for equipment, to the point where some
RER 100 executives said they are waiting a year or more for
some machines and that their plans for growth are being
tempered by the lack of availability of iron.
Thompson is in a unique position to understand issues
affecting manufacturers and how they in turn impact rental
companies. “We expect costs to rise, once again, in 2005,” he
says. “The major factors on the negative side are: higher steel
prices; soaring fuel costs; availability of certain materials;
rising labor and benefit costs; and rising interest rates.”
A number of RER 100 executives also expressed concern
over an eventual slowdown in the housing market. Owen
Cowing, whose Red Mountain Machinery (No. 59) had a
record year in volume and profitability, both because of
internal demand and IT and other internal improvements,
nevertheless has not avoided noticing issues that could
stand in the way of growth.
“Our major concern is the impact interest rates may
have on our residential market,” Cowing says. “Being
located in three large growth centers of Arizona, Southern
California, and Southern Nevada, our major market
is housing. With the rising prices of houses coupled
with higher interest rates, a slow down in residential
construction in inevitable. The other area of economic
concern is the shortage of and price of low-hour used
equipment. This makes fleet expansion expensive, and
brings new equipment into play more in fleet expansion
considerations.”
While some companies anticipated the turnaround
well enough to have planned equipment purchases in
advance, to others, the degree of the turnaround has been
surprising, leading to the inability to buy as much fleet as
they would like.
The consensus among RER 100 executives is that 2005
will continue the trends of 2004. Some expect growth to be
less dramatic, while others think 2005 will be even better,
with 2006 following in the same pattern. They express
the determination to benefit from the strong conditions
as long as they last and try to be prepared for whatever
changes may be on the horizon. RER
WWW.RERMAG.COM 27
 Company Name (Last year’s rank)
Headquarters
Top Officer
Web site
2004 Rental
Volume in
Millions
2004 Total
Volume in
Millions
Number
of Outlets
Editorial Comments
100
UNITED RENTALS (1) $2,302.2 $3,107.0 730 The first equipment rental company to top $3 billion in revenue, United
1 Greenwich, Conn.
Wayland Hicks
is back in the expansion mode, but focusing more on greenfields than
acquisitions. Also expanding its presence in the contractor supplies
www.unitedrentals.com business, opening four of a planned nine distribution warehouses. Top
management enhancing internal communication with series of town
hall meetings around the country.

RSC EQUIPMENT RENTAL (2) $1,110.0 $1,480.0 467 Profitability and volume increased as now-chairman Freek Nijdam’s

2 Scottsdale, Ariz.
Tom Zorn
www.rscrental.com
re-organization measures have taken effect, along with increased
market demand. Rolled out new brand name of RSC Equipment
Rental, unifying all Prime and RSC segments under one banner.
Formerly COO, Zorn has taken the reins as CEO. Decentralized
more responsibilities to regional level. Utilization of 67 percent,
an all-time company high.

HERTZ EQUIPMENT RENTAL CORP. (3) $928.0* $1,295.0* 265 Broadening of fleet to include supplies and smaller equipment has
3 Park Ridge, N.J.
Gerry Plescia
enabled HERC to reach a broader segment of customers. CEO Plescia
and top managers spent time and resources listening to customers,
www.hertzequip.com ensuring company was satisfying needs. Invested heavily in upgrading
staff training. Remodeling branches to incorporate inventory changes
and opening new branches to expand in key markets.

SUNBELT RENTALS (4) $608.0 $678.0 200 Huge increase under direction of new CEO Miller, a veteran

4 Charlotte, N.C.
Cliff Miller
www.sunbeltrentals.com
Sunbelt executive. Boosted rental rates by about 7 percent and
utilization grew from 65 percent to about 70, with increased
demand. With heavy concentration of locations in Florida, Sunbelt
participated in post-hurricane cleanup work and played a major
role in pre-Super Bowl preparation in Jacksonville.

NES RENTALS (5) $494.7 $589.0 131 Emerged from Chapter 11 in early ’04 and brought in former
5 Chicago
Andrew Studdert
airline executive Studdert as CEO. Sold hoist division to a
group led by founder Kevin Rodgers. Improved profitability and
www.nesrentals.com utilization in ’04 and will spend more on capex in 2005. In
mid-year, launched marketing and search-engine optimization
campaign featuring updated branding, positioning and graphic
identity strategy, generating new business leads.

NATIONSRENT (6) $461.0 $590.0 267 Transition to full-service m.o. continuing. Recently took on Case,

6 Fort Lauderdale, Fla.

Jeff Putman
www.nationsrent.com
Link-Belt and Sullivan-Palatek distributorships in various markets.
Invested heavily in customized sales program and has evolved sales
approach to include package deals involving rental, sales and service.
Particularly strong increase in new and used sales. One of industry’s
best management teams has enhanced regional structure.

HOME DEPOT RENTALS (7) $430.0* n/a 1072 Opened 1,000th rental branch in December. While still wrestling with

7 Atlanta
Dan McAreavey
www.homedepot.com
lack of experienced rental people at counter level, overall customer
service has improved. More rental-experienced leadership on corporate
side, despite departure of growth-oriented Joe Dixon. Rental now run
by McAreavey, one of rental program’s founders. Larger equipment,
more rental-specific tools should beef up inventory.

MAXIM CRANE (8) $312.0* $331.0 40 Emerged from Chapter 11 in January with its debt reduced by

8 Bridgeville, Pa.
Al Innamorato
www.maximcrane.com
more than half, with exit financing to provide liquidity. Strong
construction environment should smooth its recovery. Still the
largest crane rental company on the continent, also handling
aerial work platforms, rough-terrain telescopic forklifts, and
provides rigging and engineering.

*Denotes RER estimate based on regional economic conditions, industry sources and interviews by members of the RER staff. Revenue figures are based on actual reported revenue for North American
operations as of April 25, 2005. Location data are as of April 25, 2005. While every effort is made to ensure accuracy and thoroughness, omissions sometimes occur. All figures are in U.S. dollars. In the
case of some Canadian companies that reported figures in Canadian dollars, the figure listed is based on the average conversion rate for the year according to the Bank of Canada.
28 MAY 2005
 Top 10 Tops $7 Billion
100
Year Rental Revenue % Change
(in billions) For the first time in its history, the
2004 $7,001.9 +8.9 top 10 players of the RER 100 were
2003 $6.43 -0.5
exactly the same, year-over-year, in
exactly the same order as well. The
2002 $6.46 -6 top 10 increased by $571.9 million,
2001 $6.89 +6 an 8.9-percent increase over the
2000 $6.49 +32 previous year. The fact that the
1999 $4.94 +56 percentage boost of 8.9 percent was
1998 $3.16 +36
more than 3 percent less than the
overall 100’s increase shows that the
1997 $2.32 +55 biggest increases were not posted
1996 $1.50 +25 by the industry’s largest companies.
1995 $1.20 +20 Still four of the industry’s top 10
1994 $998.4 million +25 posted double-digit volume increases
1993 $799.0 million +11
— Home Depot, Sunbelt Rentals,
Hertz Equipment Rental Corp., and
1992 $718.9 million +1.5 Neff Rental.
1991 $708.1 million -8
1990 $771.5 million —

Where Have You Gone, Joe DiMaggio?

Companies listed on last year’s RER 100 that are not listed this year

Company Last Year’s Rank Where Have They Gone?

HSS RentX 20 Sold off in regional parcels.
LB Smith 26 Was a struggling Volvo distributor until Volvo bought it
and sold it off to various distributors.
Atlantic Rentals 67 The major rental player in Canada’s Maritime provinces,
United Rentals acquired it in 2004.
Crescent Machinery 81 Never recovered from 2002-2003 bankruptcy.
Liquidated its assets in January ’05.
Strongco 96 Canadian distributor divested its rental division.

WWW.RERMAG.COM 29
 Company Name (Last year’s rank)
Headquarters
Top Officer
Web site
2004 Rental
Volume in
Millions
2004 Total
Volume in
Millions
Number
of Outlets
Editorial Comments
100
NEFF RENTAL (9) $193.0 $248.0 67 After dramatically turning around the company’s fortunes the

9 Miami
Juan Carlos Mas
past few years, company sold to Odyssey Investment Partners
for more than twice revenue. CEO Mas and COO Graham Hood,
widely credited with quarterbacking the company’s turnaround,
www.neffcorp.com
will retain a major stake and continue to manage company with
increased capital base to build fleet and expand geographically.

H&E EQUIPMENT SERVICES (10) $160.0 $478.0 39 Enjoyed strong improvement in 2004 as a result of improved

10 Baton Rouge, La.

John Engquist
www.he-equipment.com
demand and increased efficiencies after rationalizing rental fleet.
Profitability and total volume rose significantly, with sales of new
and used equipment particularly strong. Recently opened Houston
crane branch. Former CEO Gary Bagley now chairman but still
involved in advisory capacity.

SUNSTATE EQUIPMENT CO. (13) $154.0* n/a 45 Big increase for Southwest-based multi-state rental player, both

11 Phoenix
Mike Watts
to top and bottom line. Grew by same-store growth and gaining
share in existing markets rather than tackling new ones; may add
satellite branches in existing metro markets in ’05. Developing
www.sunstateequip.com
prototype branch of the future with IP Telephony, security
monitoring cameras, graphic dispatch, GPS asset tracking and
more. Always improving efficiencies.

AGGREKO NORTH AMERICA (11) $143.0 $197.0 47 Turnaround in North America market fueled international growth.

12 Houston
George Walker
Aggreko analysts believe short-term rental of power, temperature
control and oil-free air will grow at 2 percent above GDP.
Concentrating on small events that occur regularly as well as
www.aggreko.com
large-scale infrequent events. About 25 percent of company’s
revenues come from emergency response situations.

AHERN RENTALS (15) $135.0 $154.0 33 Nearly 40-percent volume increase. Revolutionized company

13 Las Vegas
Don Ahern
www.ahernrentals.com
structure by compensating sales staff for higher rates rather
than pure volume. Major infusion of capital will enable significant
capex spending on fleet. Now manufacturing high-quality, rough
terrain forklifts, distributed and rented by Ahern. Eight dedicated
repair locations are finding improving returns. Seventy percent of
volume is from high-reach.

ALL ERECTION & CRANE RENTAL $125.0* n/a 28 Group of several companies primarily renting and selling cranes,

14 CORP. (--)
Cleveland
Norm Rados
aerial work platforms and forklifts. Spread out geographically
through Midwest, South and Southeast as well as a Canadian
branch. Fleet valued by Construction Equipment magazine at
www.allcrane.com $480 million.

AMECO (12) $124.8 n/a 21 Site services and fleet outsourcing are this global company’s
15 Greenville, S.C.
Gary Bernardez
primary strength. Becoming increasingly international. Has full-
service rental company in Iraq; working on major projects on
www.ameco.com several continents; and looking at large oil projects in former
Soviet republics. Topped 9 million hours without lost-time accident.
Implemented a new warehouse management system to enhance
ability to manage tool/supply inventory.

VOLVO RENTS (19) $120.0 $150.0 60 Now with 60 franchise rental locations, program is gathering steam

16 Asheville, N.C.
Barry Natwick
www.volvorents.com
with growing backlog of applicants. Disciplined growth process is
building a solid foundation. Finding prospective franchisees through
industry word-of-mouth, ads in business magazines, and even
construction contractors. Volvo fleet well accepted among end users.
Comprehensive training programs for owners, back-office staff,
sales staff, branch managers.

*Denotes RER estimate based on regional economic conditions, industry sources and interviews by members of the RER staff. Revenue figures are based on actual reported revenue for North American
operations as of April 25, 2005. Location data are as of April 25, 2005. While every effort is made to ensure accuracy and thoroughness, omissions sometimes occur. All figures are in U.S. dollars. In the
case of some Canadian companies that reported figures in Canadian dollars, the figure listed is based on the average conversion rate for the year according to the Bank of Canada.
30 MAY 2005
 Company Name (Last year’s rank)
Headquarters
Top Officer
Web site
2004 Rental
Volume in
Millions
2004 Total
Volume in
Millions
Number
of Outlets
Editorial Comments
100
FINNING (16) $114.2 $1,172.3 25 Exceptional year for Canadian rental operation, with 32-percent

17 Edmonton, Alberta
Paul Gour/Harry Hoyer
www.finning.ca
volume growth. Improved efficiencies and new facilities in Cat
Rental Store operation coupled with growing economy in Western
Canada. Expects thriving decade with new oil sands projects, gas
pipelines, 2010 Olympics, a forest industry recovery and more.

BRIGGS EQUIPMENT (14) $112.5 $400.0 34 One of the leading material handling rental and sales companies

18 Dallas
David Bratton/Dennis Romanson
www.briggsequipment.com
in the industry. In operation since 1896, Briggs was one of
the first companies to have an ESOP. A pioneer in innovative
management and service technician training, and the use of
large-scale vehicle tracking of delivery and service vehicles as
well as equipment to enhance efficiencies.

RING POWER (27) $105.0* n/a 14 One of the industry’s largest Cat dealers, enjoyed steady growth

19 Jacksonville, Fla.
Randy Ringhaver
www.ringpower.com
in volume and profitability while growing the size of its fleet.
Moving into a 90-acre, 375,000-square-foot new headquarters
this month. One of the leading Cat rental dealerships with strong
presence in construction, power and aerial markets.

G.E. ENERGY RENTALS (17) $97.0* n/a 18 Offers power generation and climate control rentals in the
20 Atlanta
Luis Ramirez
www.gepower.com
commercial, industrial, utility, oil and gas, and entertainment
markets. Offers application engineering, delivery, installation,
operation and maintenance for remote, temporary, backup, cooling
and peak shaving needs. Benefiting from increased acceptance of
rental from utility companies.

ESSEX CRANE RENTAL CORP. (--) $90.0* n/a 19 With 19 locations, including five service centers, Essex
21 Buffalo Grove, Ill.
Ron Schad
www.essexcrane.com
has inventory valued by Construction Equipment at about
$350 million. The world’s largest provider of Manitowoc lattice-
boom crawler cranes and attachments, supplying construction
projects related to power generation, petrochemical refineries,
water treatment, bridges, highways, hospital, shipbuilding and
commercial construction.

HOLT CAT RENTAL (18) $76.5 $500.0+ 14 Had huge year as demand increases in Texas and Holt benefits
22 San Antonio
Peter Holt
from increased efficiencies. Customer demand has improved,
profitability up sharply along expenditures on fleet as company
www.holtcat.com nearly doubled its inventory. Holt locations celebrated 100-year
anniversary of Caterpillar track-type tractor.

BATTLEFIELD EQUIPMENT $60.0 $115.0 32 Has updated rental fleet for past two years and grown fleet
23 RENTALS (22)
Stoney Creek, Ont.
Randy Casson
numbers significantly in some areas. Customer acceptance of
Caterpillar’s compact machines, particularly mini-excavators and
skid-steer loaders, has exceeded expectation, especially driving
www.battlefieldequipment.ca rental. Volume increase of around 35 percent in ’04 with improved
utilization of rental assets and higher rental rates.

EMPIRE MACHINERY (23) $52.0* n/a 10 In addition to the usual line of Caterpillar and aligned construction
24 Mesa, Ariz.
Dave Mullaney
equipment, Empire has become big in the power rental arena offering
electric-power generators, air compressors, and temperature-control
empire.cat.com products. Offers portable generators up to 1,750 kW and Cat power
modules up to 2,000 kW, large water pumps and fuel tanks.

WAGNER RENTS (21) $49.7* n/a 15 Central dispatching system for trucking helped utilization as this
25 Denver
Bruce Wagner
pioneer of Caterpillar’s rental program reduced fleet while growing
volume. Improved ability to turn around repairs and get equipment
www.wagnerequipment.com rental-ready. Increasing niche inventory such as trench shoring and
growing already large pump inventory. Started up Farmington, N.M.,
and planning another start-up this year.
*Denotes RER estimate based on regional economic conditions, industry sources and interviews by members of the RER staff. Revenue figures are based on actual reported revenue for North American
operations as of April 25, 2005. Location data are as of April 25, 2005. While every effort is made to ensure accuracy and thoroughness, omissions sometimes occur. All figures are in U.S. dollars. In the
case of some Canadian companies that reported figures in Canadian dollars, the figure listed is based on the average conversion rate for the year according to the Bank of Canada. WWW.RERMAG.COM 31
 100
High Jumpers
It was a year of major increases for many on the RER 100. Charting only those for whom
we had “non-estimated” rental volume numbers for the past two years, 18 companies had
increases of 20 percent or more, while an additional 16 had double-digit increases.
Here are the top increases in this year’s RER 100:

Company 2004 Rental Volume 2003 Rental Volume % Increase

(ranking) (in millions) (in millions)
Stowers Machinery (60) $20.2 $14.2 42.2
Holt Cat (22) $76.5 $55.0 38
Ahern Rentals (13) $135.0 $98.5 37.0
Battlefield Equipment Rentals (23) $60.0 $44.6 34.5
Finning (17) $114.2M $86.4 32.3
Hawthorne Rent-It Service (34) $35.0 $27.0 29.6
Red Mountain Machinery (59) $21.1 $16.3 29.4
Gregory Poole Equipment (46) $26.9 $20.9 28.7
Wajax Ltd. (38) $33.8 $29.2 25.3
All-Star Rents (79) $11.9 $9.5 25.3
Topp Portable Air (92) $8.0 $6.4 25
Ecco Equipment (26) $48.0 $40.0 24
California High Reach (85) $9.6 $7.8 23
PDQ Rentals (85) $9.6 $7.8 23
Peterson Rents (56) $22.0 $18.0 22.2
Berry Cos. (75) $12.8 $12.8 $10.5 21.9
Location Simplex (28) $37.7 $31.3 20.5
Anderson Equipment (41) $30.0 $25.0 20
Thompson Pump (41) $30.0 $25.0 20

RER 100 Fast Fact

The 2005 RER 100, covering 2004 revenue, has 19 companies with reported or
estimated rental revenue of $100 million or more. Last year there were 14, in
2000 there were 12, in 1995 there were four.

32 MAY 2005
 Company Name (Last year’s rank)
Headquarters
Top Officer
Web site
2004 Rental
Volume in
Millions
2004 Total
Volume in
Millions
Number
of Outlets
Editorial Comments
100
ECCO EQUIPMENT (24) $48.0 $51.0 7 Big heavy construction equipment is the forte of regional Ecco,
26 Santa Ana, Calif.
Don Schmid
with three branches in California, plus Utah, Arizona and Nevada.
Particularly strong in rental of Caterpillar equipment, with Volvo,
www.eccoequipment.com Gradall, Komatsu and others rounding out the fleet.

RED-D-ARC WELDERENTALS (24) $40.0 $54.0 35 North America’s leading welding rental specialist. Owned by gas

27 Austell, Ga.
Mitch Imielinski
distributor Airgas, specializes in welding and accessories and
positioning equipment, from refinery shutdowns to smaller jobs,
with up to 200,000-pound positioning capacity. Branching into
www.red-d-arc.com
smaller tools upon request, offers complete welding packages
with servicing, troubleshooting and fleet management.

LOCATION SIMPLEX (37) $37.7 $44.0 28 Another big increase for Quebec rental company with more than
28 Montreal
Andre Veronneau
50,000 pieces of equipment, chosen for the past five years by CIBC
Bank as one of the 50 best-managed private companies in Canada.
www.simplex.ca More than 75 delivery trucks in 28 branches enable company to
deliver to anywhere in huge province of Quebec in four hours.

OHIO CAT (30) $37.5* n/a 8 Now 60 years old and covering the entire state of Ohio with

29 Broadview Heights, Ohio

Kenneth Taylor
www.ohiomachinery.com
a wide-ranging rental inventory including scissors and booms,
mortar mixers, pavement breakers, pressure washers, pumps, tool
carriers, concrete saws and the whole Caterpillar line. CEO Taylor
is third generation of Taylor family to run company.

STAR RENTALS (36) $35.9 $50.9 16 Bought a lot of new equipment, lowered the age of fleet.

30 Seattle
Bob Kendall
www.starrentals.com
Systematically raised rates every quarter for last year and a
half. Fourteen percent volume increase especially noteworthy
considering unemployment in Washington was worst in U.S.
for several years. Sub-normal rainfall aided utilization. Already
planning fleet expenditures for ’06 because of long lead times.

CASHMAN EQUIPMENT (33) $35.8* n/a 5 Successful Caterpillar dealership strong in construction, marine,

31 Las Vegas
Mary Kaye Cashman
generator, and engine rental businesses. One of Nevada’s leading
employers.
www.cashmanequipment.com

IMPERIAL CRANE SERVICES (31) $35.3* $40.0* 3 Leading Midwest crane rental specialist with full line of aerial

32 Bridgeview, Ill.
B. J. Bohne/Lance Bohne
www.imperialcrane.com
work platforms, forklifts, specialized rigging, spreader beams,
slings and more, with trained and certified riggers and sales
engineers to prepare site diagrams, and meet with project design
and structural engineers. Has won Specialized Crane and Rigging
Association safety award for seven straight years.

HOLT OF CALIFORNIA (29) $35.1* n/a 7 Another strong year for northern California Cat dealer as market

33 Pleasant Grove, Calif.

John Johnson
improves. Opened branch in Yuba City in January, the company’s
seventh. Rental rates in area have increased a few percentage
points and demand is likely to continue strong into 2006.
holtca.cat.com

HAWTHORNE RENT-IT SERVICE (41) $35.0 $44.0 14 Took over Cat dealership for Hawaii in May and is now running four

34 San Diego
Tom Hawthorne
hawthorne.cat.com
Cat Rental Stores there. Adding its volume to already good increase
jumped Hawthorne 30 percent in rental in ’04. With nearly 50 years
in rental, long the standard-bearer for the Cat rental program.

KELLY TRACTOR (35) $34.8* n/a 10 In addition to Caterpillar, Kelly represents Link-Belt Cranes, IMT

35 Miami
John Socol
www.kellytractor.com
Drilling Rigs, Sullair, Barber-Greene, Wacker, Massey Ferguson,
Harlo, Taylor, Eagle Picher and more. Strong in highway and
bridge building, water and sewer, land development, housing,
aggregate quarries, agriculture, warehousing, seaports, marinas
and other markets.
*Denotes RER estimate based on regional economic conditions, industry sources and interviews by members of the RER staff. Revenue figures are based on actual reported revenue for North American
operations as of April 25, 2005. Location data are as of April 25, 2005. While every effort is made to ensure accuracy and thoroughness, omissions sometimes occur. All figures are in U.S. dollars. In the
case of some Canadian companies that reported figures in Canadian dollars, the figure listed is based on the average conversion rate for the year according to the Bank of Canada.
34 MAY 2005
 Company Name (Last year’s rank)
Headquarters
Top Officer
Web site
2004 Rental
Volume in
Millions
2004 Total
Volume in
Millions
Number
of Outlets
Editorial Comments
100
MUSTANG RENTAL SERVICES (32) $34.1 n/a 8 Eight locations cover 35 southeast Texas counties with 350 lines of

36 Channelview, Texas
Louis Tucker
www.mustangcat.com
Caterpillar equipment, plus gensets, water pumps, Load King trailers,
NPK hydraulic hammers, Miskin scrapers, Atlas Copco, Multiquip and
more. Company was founded in 1952 by three partners including
a former Houston mayor.

LOUISIANA MACHINERY (34) $34.0* n/a 6 Recently opened Lake Charles branch. In addition to Cat products,

37 Reserve, La.
Jay Dinger
www.louisianamachinery.com
has Sullivan air compressors, Lincoln welders, Genie aerial lifts,
Ledwell water trucks, Towmaster trailers, Ditch Witch trenchers,
Partner chop saws, Broce brooms, LeeBoy pavers and motor
graders, Wacker compaction equipment and more.

WAJAX LTD. (40) $33.8 $344.6 31 Providing huge mining trucks and hydraulic shovels for major
38 Mississauga, Ontario
James Burns
oil sands project in Fort McMurray, Alberta, area. One of Canada’s
longest standing companies founded in 1858. A multi-line distributor
www.wajax.com of heavy equipment with industrial components and diesel engine
divisions as well. Acquired a JCB distributor in southwestern Ontario.
About a 25 percent rental volume increase.

NORTHRIDGE EQUIPMENT $33.6* $37.5* 5 Focused on improving service, adding and improving fleet and
39 RENTALS (38)
Northridge, Calif.
modifying and improving IT system all while trying to service
customers’ increasing demand as Southern California economy
Mike Groff boomed.
www.northridgerentals.com

TRICO EQUIPMENT (39) $31.0 $65.0 9 Growth was stabilized in 2004 to focus on redesigning processes

40 Vineland, N.J.
Joseph Pustizzi Jr.
to improve profitability. With better operating processes and
better rate management, achieved the most profitable year in
its rental history. Now looking to re-institute a growth model
www.tricoequipment.net
by increasing market share in existing markets and look for
opportunities to grow in new markets.

ANDERSON EQUIPMENT CO. (43) $30.0 $150.0 14 Twenty percent rental volume jump for Pittsburgh-based Komatsu

41 Bridgeville, Pa.
Judy Anderson
www.andersonequip.com
dealership. Added new parts online system. Company now in its
70th year of operation.

THOMPSON PUMP (43) $30.0 n/a 17 Record-breaking year for manufacturer with 17 rental divisions.

41 Port Orange, Fla.

Bill Thompson
In addition to 20 percent rental volume growth, had an even
bigger jump in sales. Opened Georgia and Maryland branches in
’04, while other recently established branches in Kansas City and
www.thompsonpump.com
Providence hit stride. Moved into much larger Jacksonville facility
and is building regional superdepot in Orlando.

MacALLISTER MACHINERY (--) $29.5* n/a 6 Indiana’s Caterpillar dealer began rental services business unit

43 Indianapolis
Chuck MacAllister
in 1999 and has grown into outstanding rental program. Also
features aerial work platforms up to 120 feet, air compressors,
welders, carry-deck cranes, ride-on brooms, boom trucks, light
www.macallister.com
towers and tools for compaction and concrete. Dealership
celebrating 60 years in business.

EQUIPMENT DEPOT (50) $28.0 $109.7 6 Enjoying strong start to 2005 after a strong push at the end of

44 Waco, Texas
Don Moes
2004. Offers lift trucks, scissorlifts, telescopic booms, articulated
knuckle booms, commercial mowers, tractors, agricultural
equipment, haying equipment and attachments. Big increase with
www.eqdepot.com
integration of acquisition of three Caterpillar Lift Truck locations
in previous year.

*Denotes RER estimate based on regional economic conditions, industry sources and interviews by members of the RER staff. Revenue figures are based on actual reported revenue for North American
operations as of April 25, 2005. Location data are as of April 25, 2005. While every effort is made to ensure accuracy and thoroughness, omissions sometimes occur. All figures are in U.S. dollars. In the
case of some Canadian companies that reported figures in Canadian dollars, the figure listed is based on the average conversion rate for the year according to the Bank of Canada.
36 MAY 2005
 100
More Cigars – Companies to Watch
Some growing companies didn’t quite make the RER 100. Others were not listed for lack of reliable information,
but probably should be. Here are a few of them.

Rain For Rent, Bakersfield, Calif. – Liquid-handling rental company specializing in pumps, pipe,
liquid storage tanks, filtration systems and other highly specialized areas. Would be in the top 25 if listed.

Quinn Shepherd Rental Services – When Quinn, based in Santa Maria, Calif., acquired L.A.-area
Cat dealer Shepherd, it became an upper-echelon Caterpillar dealership with a significant rental program.

Buckner Rental Service grew to be the leading petrochemical rental company on the Gulf Coast, with 28 branches from
Texas to Florida, based and rooted in south Louisiana’s specialized offshore rental services sector. A few years after selling
his company to Neff Rentals, Robert Buckner started again in his home city of Houma, with Barry DeRoche and Travis
Bergeron and 10 other partners, with DeRoche and Bergeron playing the major operational roles. Now at six branches,
Redfish Rentals is a long way from BRS’ size, but it’s one of the fastest-growing indies around.
Godwin Pumps – Known as a manufacturer of high-quality, automatic, self-priming, and electrical and
hydraulic submersible pumps, also has a network of 21 rental locations, renting to highly specialized applications.

Cresco Equipment Rentals – The leading independent rental company in and around the San
Francisco Bay Area has made several significant acquisitions in recent years.

Metrolift – An aerial specialist with forklifts and earthmoving items and extensive repair capabilities. Based in
Sugar Grove, Ill., only a few years old, it fell slightly short of the RER 100. Another solid Chicago-area independent high-
reach specialist Illini Hi-Reach, Lemont, Ill., also came close to making the list.

W.I. Clark – with rental volume of $6 million, narrowly missed being listed and might have been No. 101.

RER 100 Fast Fact

The 100 companies of the RER 100 have 4,400 locations;
the top 10 companies have 3,278, or 74.5 percent of them.

38 MAY 2005
 Company Name (Last year’s rank)
Headquarters
Top Officer
Web site
2004 Rental
Volume in
Millions
2004 Total
Volume in
Millions
Number
of Outlets
Editorial Comments
100
CLAIREMONT EQUIPMENT (47) $27.5 n/a 6 Thirteen-percent increase for San Diego-based Komatsu dealer
45 San Diego
Jerry Zagami
and earthmoving rental specialist, one of the most successful
rent-to-rent companies in Komatsu fold. For more than two
www.clairemontequipment.com decades has viewed rental as separate entity and operated it
with rental-first mentality. Also handles Dressta, Bomag, Sky Trak,
Snorkel, Stihl, Airman and UpRight.

GREGORY POOLE EQUIPMENT (53) $26.9 $300.0 8 A nearly 30 percent volume increase despite concerns over
46 Charlotte, N.C.
Gregory Poole III
manufacturer lead times and price increases, rising fuel prices, and
steel and tire shortages. Strong demand and improving rental rates
www.gregorypoole.com made 2004 a good year. Continued demand and the addition of
substantial amounts of inventory make the ’05 outlook rosy.

MODERN GROUP LTD. (42) $26.5 $145.1 21 Profitability up significantly over ’03. Facing challenges such as

47 Bristol, Pa.
Dave Griffith
www.moderngroup.com
increased medical expenses and long lead times, leading to new
programs with OEMs to keep equipment coming. After some
key retirements, brought in several new executives, revitalizing
leadership. Resulting re-examination of company’s processes has
brought positive results.

STEPHENSON’S RENTAL SERVICE (51) $26.0 $33.0 21 Continued transformation into contractor-oriented company,
48 Mississauga, Ontario
Willie Swisher
concentrating in Toronto market, working to meet market
objective of having a branch within 20 minutes of any major
www.stephensons.ca area of the city. Using Internet creatively to respond to customer
needs more quickly. Volume jump of 18 percent; profitability
increase higher. Made significant investment in aerial products to
round out inventory.

YANCEY BROS. (49) $25.8* n/a 13 Has six dedicated Cat Rental Stores and seven additional Yancey
49 Austell, Ga.
Tom Tucker
rental locations. Also handles Vermeer, Amida, National Crane,
Wacker, Multiquip, Miller, Sullair, Kubota and other national
www.yanceybros.com brands.

ART’S RENTAL EQUIPMENT (48) $25.6 $33.8 11 Another nice volume increase for Kentucky-based company, the
50 Newport, Ky.
Ken Arlinghaus
leading player in Cincinnati market, southern Ohio and northern
Kentucky market. Has one of the industry’s best online reservation
www.artsrental.com systems.

BLANCHARD MACHINERY (84) $25.3 n/a 5 Huge year for growing rental services segment of this South

51 West Columbia, S.C.

Joe Blanchard
www.blanchardmachinery.com
Carolina Cat dealer with a strong rental focus.

LOCATION HEWITT (59) $24.0* n/a 11 Strong market helped Quebec Cat dealer play a major role in

52 Pointe-Claire, Quebec
Pierre Pontbriand
www.hewitt.ca
province’s construction rental scene. Caterpillar dealer for Quebec
and western Labrador and Cat lift truck dealer for much of
Ontario.

SOUTHEASTERN EQUIPMENT (56) $23.2 $116.0 17 Serves Ohio, Kentucky and Indiana. Has handled Case equipment

53 Cambridge, Ohio
William L. Baker
www.southeasternequip.com
since the late 1950s and claims to be the largest privately owned
Case distributor in the world and the largest Kobelco dealer in the
country. Also represents nearly 40 other manufacturers.

WACO SCAFFOLDING $23.1 $81.4 16 Celebrating its 60th anniversary in 2005, Waco slowly built its

54 & EQUIPMENT (45)

Cleveland
Marty Coughlin
branch network through dealer acquisitions. The company has
grown its distribution network to 15 company-owned branches
and more than 100 dealers of Waco products throughout the
www.wacoscaf.com United States and Caribbean Islands. Waco specifically markets its
business to the commercial industry and the concrete market.
*Denotes RER estimate based on regional economic conditions, industry sources and interviews by members of the RER staff. Revenue figures are based on actual reported revenue for North American
operations as of April 25, 2005. Location data are as of April 25, 2005. While every effort is made to ensure accuracy and thoroughness, omissions sometimes occur. All figures are in U.S. dollars. In the
40 MAY 2005 case of some Canadian companies that reported figures in Canadian dollars, the figure listed is based on the average conversion rate for the year according to the Bank of Canada.
 Company Name (Last year’s rank)
Headquarters
Top Officer
Web site
2004 Rental
Volume in
Millions
2004 Total
Volume in
Millions
Number
of Outlets
Editorial Comments
100
SCOTT CONSTRUCTION EQUIPMENT(52) $22.1* $260.0* 10 Customer service is the hallmark of this 66-year-old company

55 Baton Rouge, La.

Scott Cummins
www.scottcompanies.com
that serves the agriculture, lawn and garden, construction, logging
and rental markets in Louisiana, Texas, Arkansas and Tennessee.

PETERSON RENTS (61) $22.0 $47.0 6 Another strong year for northern California Cat dealer covering

56 San Leandro, Calif.

Eric Martin
www.petersontractor.com
21 counties in and around the San Francisco Bay Area. One of
Cat Rentals’ long-running success stories.

CONECO EQUIPMENT (55) $21.9* n/a 10 Canada’s largest Komatsu dealer profiting considerably from oil

57 Edmonton, Alberta
Sam Cosgrove
www.coneco.ca
work in Alberta and British Columbia. Also strong in Ingersoll-
Rand, Blount, Blaw-Knox and more.

PUCKETT RENTS (58) $21.8* n/a 9 Enjoyed high demand, fleet expansion, and an increase in rental
58 Richland, Miss.
Hastings Puckett
rates. Built new facilities. Company has high expectations for 2005
and into 2006. Strong in construction, governmental work and
www.puckettrents.com forest products industries, with industrial and marine segment on
Mississippi Gulf Coast.

RED MOUNTAIN MACHINERY (66) $21.1 $22.4 3 Qualcomm GPS improved service efficiency, improved collections

59 Escondido, Calif.
Owen Cowing
www.redmountain.com
on troubled projects. Grew fleet in 2004 and will continue in ’05.
More careful attention to profitability of each product line and
better cooperation between branches has improved profitability.
Strong demand and rate improvement in early ’05. Added sales,
marketing and mechanic staff; has made IT investments; enjoyed
29 percent volume increase.

STOWERS MACHINERY (70) $20.2 $144.0 6 Good year for Tennessee Caterpillar dealer’s rental program, in

60 Knoxville, Tenn.
Wes Stowers
stowers.cat.com
volume and profitability, with an explosive 42 percent rental
volume increase. Customer demand began to rise last spring and
hasn’t slowed down yet.

PUERTO RICO WIRE (57) $20.1 $58.3 5 Celebrating 60 years in business in Puerto Rico’s often-vibrant

61 San Juan, P.R.

Jose Cestero
www.puertoricowire.com
construction market with wide-ranging inventory of light and
heavy equipment.

COMPRESORES & EQUIPOS (60) $19.3 $20.5 6 Celebrating 40 years in business with a wide array of equipment
62 San Juan, P.R.
Francisco de Armas
and services. Strong in compressors as name suggests, but has
everything from large earthmoving to lifts and supplies. Branch
www.compresores.com in Dominican Republic doing well also.

TEMP-AIR/RUPP INDUSTRIES (61) $19.0 $19.0 12 Major player in heating and air-conditioning rental markets

63 Burnsville, Minn.
Dick Brown
www.tempair.com
has recently found success with newly designed pest-control
equipment as well. Successful in Latin American markets.

SAFEWORKS (54) $18.9 $37.7 26 Spider division, which began as a manufacturer more than

64 Tukwila, Wash.
Scott Farrell
www.spiderstaging.com
55 years ago, now has a rental presence in 25 markets across
North America. Power Climber is a manufacturer of suspended
scaffold hoists that sells only to dealers to independent equipment
rental companies and national multi-location rental houses.

*Denotes RER estimate based on regional economic conditions, industry sources and interviews by members of the RER staff. Revenue figures are based on actual reported revenue for North American
operations as of April 25, 2005. Location data are as of April 25, 2005. While every effort is made to ensure accuracy and thoroughness, omissions sometimes occur. All figures are in U.S. dollars. In the
case of some Canadian companies that reported figures in Canadian dollars, the figure listed is based on the average conversion rate for the year according to the Bank of Canada.
WWW.RERMAG.COM 41
 100
Volume Per Location
(Size Does Matter)
Many factors go into how much volume per location a company grosses. Type of equipment, efficiencies, market characteristics,
and size of available properties all are factors. But here are the RER 100’s top volume companies per location.

Volume Per Number of

Name of Company (rank) Location Locations
(in millions)
Imperial Crane Services (32) $11.7* 3
Maxim Crane Works (8) $7.8* 40
Ring Power (19) $7.5 14
Ecco Equipment (26) $6.9 7
Cashman Equipment (31) $7.1* 5
Red Mountain Machinery (59) $7.0 3
American Equipment Rentals (71) $6.85 5
Northridge Equipment Rentals (39) $6.8* 2
Peterson Rents (56) $6.1 3
Ameco (15) $5.9 21
* Asterisk denotes RER estimated revenues.

Single-location companies

Name of Company (rank) Rental Volume

(in millions)
California High Reach (85) $9.6
National Lift Truck (87) $9.3
Knickerbocker Russell (98) $7.3

42 MAY 2005
 Company Name (Last year’s rank)
Headquarters
Top Officer
Web site
2004 Rental
Volume in
Millions
2004 Total
Volume in
Millions
Number
of Outlets
Editorial Comments
100
ADMAR SUPPLY CO. (65) $18.4 $30.8 5 Nice 12-percent increase for upstate New York rental house, which

65 Rochester, N.Y.
Richard DiMarco
www.admarsupply.com
recently opened a branch in Vestal, N.Y. Company has more than
800 lifts in its fleet and has excavators, forklifts, air compressors,
compaction, concrete, generators, lasers, welders, pumps, saws and
a lot more.

COWIN EQUIPMENT CO. (68) $18.1 n/a 8 Raised rental rates several times in past 18 months. Enjoyed 15
66 Birmingham, Ala.
James Cowin
percent volume increase. Grew fleet as much as company could
handle. Ordered equipment well in advance to avoid lead-time
www.cowin.com issues. Expects continued strong demand through ’05, but leveling
off likely. A distributor with rental history going back to 1938.
Currently has more than $50 million in inventory.

PATTEN INDUSTRIES (64) $17.6 n/a 7 Thoroughly reviewed equipment profitability, adding to

67 Elmhurst, Ill.
Crain Patten
www.pattenind.com
most profitable lines and decreasing under-utilized products.
Implemented new computer system and opened branch in Elburn,
Ill., last year. Aggressively added staff to rental counters.

ROLAND MACHINERY (72) $15.2 $152.9 15 Komatsu dealer doing business in Illinois, Missouri, Wisconsin, Indiana

68 Springfield, Ill.
Ray Roland
www.rolandmachinery.com
and Michigan enjoyed a 10 percent volume increase in ’04. Large
rental fleet includes air compressors, compactors, earthmoving
equipment, light towers, soil compactors, dump trucks and more.
Consistently one of the top Komatsu dealers in the country.

REBEL RENTS (76) $15.0 n/a 10 Had a good year, added on to rental fleet. Working on improving
69 Temecula, Calif.
Rick Clauss
rental facilities.

NORTH CENTRAL RENTAL $14.8 n/a 8 Sold a lot of used fleet because of huge demand for late-model,

70 & LEASING (63)

Fargo, N.D.
Dan Butler
low-hour equipment, and then couldn’t replace rental inventory
because of long lead times. Thus, rental volume decreased, but
sales were massive. Rental arm of Dakotas Caterpillar dealer Butler
www.butler-machinery.com Machinery, celebrating 50 years in business — all family owned.

AMERICAN EQUIPMENT RENTALS (--) $13.7 $16.0 2 Owned by partners who worked for company sold to consolidators.

71 Providence, R.I.
Chris Tribelli
www.aerentals.com
They chose to leave and start their own, helped by sympathetic
manufacturers. With about 1,000 pieces of aerial equipment, now
the largest independent aerial lift dealer in New England. Fleet of
Terex, Genie, JLG, MEC and Snorkel, plus various brands of forklifts.
An up-and-comer to watch.

HUGG & HALL EQUIPMENT (74) $13.7 $68.0 6 With about 120 mechanics, a major force in equipment service.

72 Little Rock, Ark.

John Hugg/Robert Hall
www.hugghall.com
Main product lines are Volvo, Hitachi, Bobcat, SkyTrak, JLG, Genie
and Toyota, but inventory includes pumps, generators, saws,
welders and more. Arkansas’ leading rental company with large
fleet of aerial lifts, excavators, haul trucks, forklifts and more.

HANDY RENT-ALL CENTER (75) $13.5 $17.7 8 Still a general rental player but opened contractor-focused branch with

73 Wappingers Falls, N.Y.

Gene Lois
www.handyrent-all.com
excavators up to 46,000 pounds and other large items and overall
shifting more toward contractors. Still has homeowner and tradesmen
appeal with some marketing similar to mass merchandisers.

DIAMOND RENTAL (78) $13.5 $15.0 12 Strong year of growth for Utah’s dominant rental player.
73 Salt Lake City
Mark Clawson
www.diamondrental.com
Homeowner business remaining steady, with particular growth
in the contractor segment. Opened a large branch to serve as
a hub with inventory storage space. Having a lot of young,
growing customers is a plus, enabling rental business and
customer to grow together.

*Denotes RER estimate based on regional economic conditions, industry sources and interviews by members of the RER staff. Revenue figures are based on actual reported revenue for North American
operations as of April 25, 2005. Location data are as of April 25, 2005. While every effort is made to ensure accuracy and thoroughness, omissions sometimes occur. All figures are in U.S. dollars. In the
case of some Canadian companies that reported figures in Canadian dollars, the figure listed is based on the average conversion rate for the year according to the Bank of Canada.
44 MAY 2005
 Company Name (Last year’s rank)
Headquarters
Top Officer
Web site
2004 Rental
Volume in
Millions
2004 Total
Volume in
Millions
Number
of Outlets
Editorial Comments
100
BERRY COMPANIES (80) $12.8 $149.1 21 Twenty-two percent rental volume growth while profitability more

75 Wichita, Kan.
Walter Berry
www.berrycompaniesinc.com
than doubled, achieved with only a 5-percent inventory growth.
Decided to change IT system from in-house system to third-party
provider. Added Platte City, Kan., branch in ’04. Main product lines
are Bobcat, Komatsu and Yale forktrucks.

CAPITAL RENTALS (--) $12.3 $19.6 7 Headquarters in Maryland, with most branches in northern Virginia

76 Sterling, Va.
Brian Vaughan
www.capitalrentals.com
with Washington, D.C., being primary trading area. A general
rental company with a wide range of equipment and tools.

ROMCO EQUIPMENT CO. (--) $12.1 $112.6 8 Heavy equipment company, dealer for Volvo, Hitachi, Ingersoll-

77 Dallas
Robert Mullins
www.romco.com
Rand, Waldon, Finlay and Gomaco. Has strong presence in most
of Texas’ major markets.

MIDLANTIC MACHINERY (71) $12.0 $90.0 7 In business since 1941 and the oldest continuous Komatsu
78 Hatfield, Pa.
Jim McKeever
dealer in the U.S. Has seven locations in eastern Pennsylvania,
Delaware and Maryland, big in Bomag compaction machinery and
www.midlanticmachinery.com Stanley-LaBounty demolition tools. Has solid range of construction
equipment in rental inventory.

ALL STAR RENTS (83) $11.9 $13.3 10 Strong demand in northern California led to 25 percent rental

79 Fairfield, Calif.
Ken deVries
www.allstarrents.com
volume jump. Rental rates have risen significantly. Has efficient
order-reservation system online. Wide-ranging inventory, with four
concrete plants.

MIDWEST AERIALS & EQUIPMENT (77) $11.5 $16.3 3 Aerial company with strong sales staff, fleet management

80 St. Louis
Daniel Tumminello
capability, and an entrepreneurial dedication and passion to
succeed. One of the nation’s leading aerial rental specialists with
more than 1,400 units. Founded by former M.J. Struckel sales
www.midwestaerials.com
manager who wouldn’t take no for an answer after being turned
down by lenders 47 times.

LYNN LADDER & SCAFFOLDING (79) $11.2 $46.7 11 With rental centers primarily in New England, plus Pennsylvania

81 Lynn, Mass.
Frank Koughan
www.lynnladder.com
and North Carolina, this manufacturer and renter of scaffolding
and ladder products enjoyed a 10 percent total volume and
3 percent rental volume increase in 2004.

UNITED SCAFFOLDING $10.5 $45.4 8 Has branches in Texas, Arkansas, Alabama and Louisiana, primarily

82 an XServ Co. (--)

Baton Rouge, La.
serving industrial and petrochemical markets.

Mike Appling Jr.

www.unitedscaffold.com

A TOOL SHED (85) $9.9* $9.9* 8 Celebrating 60 years as a family business, the leading independent

83 Campbell, Calif.
Larry Pedersen
general rental company in Northern California south of the Bay
Area, serving contractors and homeowners.
www.atoolshed.com

RENTALMAX (82) $9.8 $10.7 10 With 10 branches, the most widespread chain in the Chicagoland

84 Wheaton, Ill.
Terry Hagy
www.rentalmax.com
area, with more than 1,000 different types of equipment and
tools, a general rental company with a one-stop shop business
model.

*Denotes RER estimate based on regional economic conditions, industry sources and interviews by members of the RER staff. Revenue figures are based on actual reported revenue for North American
operations as of April 25, 2005. Location data are as of April 25, 2005. While every effort is made to ensure accuracy and thoroughness, omissions sometimes occur. All figures are in U.S. dollars. In the
case of some Canadian companies that reported figures in Canadian dollars, the figure listed is based on the average conversion rate for the year according to the Bank of Canada.
46 MAY 2005
 100
Rebound
Fueling Rental Growth
RER recently held its first online RER 100 Roundtable,
featuring the participation of executives from seven
RER 100 companies. The event, sponsored by JLG
Inc., also featured the participation of JLG senior vice
president of sales, marketing and product support
Craig Paylor. Participants included Mike Kneeland,
executive vice president of operations, United Rentals
(No. 1); Charles Snyder, executive vice president of fleet
and asset management for NationsRent (No. 6); Mike
Watts, CEO, Sunstate Equipment (No. 11); Don Ahern,
CEO, Ahern Rentals (No. 13); Barry Natwick, CEO,
Volvo Rents (No. 16); Willie Swisher, CEO, Stephenson’s
Rental Services (No. 48); and Mark Clawson, CEO,
Diamond Rental (No. 73). The event, moderated by RER
editor Michael Roth, can be listened to in its entirety at
www.rermag.com.
In the following pages, you can read excerpts from
the RER 100 Roundtable.
RER: How has the rental industry changed in recent
years and how is it likely to change in the years to come,
particularly in terms of customers’ expectations?
Snyder: From my observation, it seems like there’s a
lot less forward planning than there used to be in the
old days. We used to have conversations with customers
weeks, if not months, in advance of their needs. And
we planned for that. It seems to have transitioned more
into an “I want it now” kind of mentality and [the rental
company is] expected to have it now. We’ve had to
adjust our fleet levels and our inventory levels and our
response rates to accommodate that.
Kneeland: When you look over the past 25 years,
customers have changed dramatically. Typically you saw
construction companies that were really focused within
a certain market area. As their markets fluctuate, they’ve
been forced to go outside their geographical territories to
find work, and with this new means of communication
that are available and technology available to contractors,
we’re finding them more and more portable.
In 1997, 17 percent of equipment was rented. In 2004,
48 MAY 2005
the estimate is around 35 percent of the equipment
is now rented and industry sources say that by 2010,
50 percent will be rented. There’s a shift from ownership
to renting and shifting from ownership as far as having
it on your balance sheet and relying on equipment that’s
portable across different areas of the country.
Swisher: That’s one of the reasons why contractors are
willing to shift away from ownership and go to rentals,
because they can do less planning, they can become
less reliant on forecasting and just be able to pick up
the phone to one of our companies and say, “I want the
equipment today” and most of us have the ability to
respond to that. That will continue to fuel the growth
away from ownership.
Watts: All of us have experienced a roll-up of certain
segments of the industry. We’ve seen the electrical and
HVAC-type contractors roll up. They are going back to
relationships and service, but it did push the concept of
some of them choosing to use their own rental contracts
and expecting us to basically accept that. And at the
same time, the rental industry in general allowed those
individuals or those companies to drive more openness
to negotiation, as it relates to pricing and rental rate
structures than what we ever had before.
Ahern: [The customers] understand our business better
than ever and they are becoming more sophisticated in
their negotiations. We’re finding it increasingly hard to
negotiate a margin into our rental rates, as they become
smarter and as they fully consolidate and use their
purchasing power.
Clawson: Even for homeowners, the expectations have
really changed as to equipment in recent years. People
might have a somewhat unrealistic expectation that for
the long-term, the industry can always have a brand new
piece of equipment for them when they rent it, that it’s
never going to be something that’s been out and working
for a year or two. That’s an effect of the changes over the
past five to 10 years in our own industry. RER
 Company Name (Last year’s rank)
Headquarters
Top Officer
Web site
2004 Rental
Volume in
Millions
2004 Total
Volume in
Millions
Number
of Outlets
Editorial Comments
100
CALIFORNIA HIGH REACH (90) $9.6 $10.5 1 Huge 23 percent rental volume jump for northern California

85 Modesto, Calif.
Roy Airington
aerial specialist. Market roughly divided between Central Valley,
Sacramento and the Bay Area. Work slowed down this past winter
with excessive rain, but the sun shines in spring and summer.

PDQ RENTALS (90) $9.6 $12.9 2 Twenty-three percent volume increase for southern California

85 Santa Fe Springs, Calif.

Dennis Turner
www.pdqrentals.com
general rental company that has everything from hand tools up
to 150-foot booms. A family-owned business since the 1950s and
one of the constant dominant players on the ever-changing vibrant
SoCal rental scene. Thirty-three-percent jump in total volume, with
boost from sales of Komatsu equipment.

NATIONAL LIFT TRUCK (86) $9.3 $19.0 1 Company has 1,500 machines, including aerials and forktrucks

87 Franklin Park, Ill.

Jim Dietz
www.nlt.com
up to 150,000 pounds, and 20-ton industrial cranes. Works
with haul-for-hire and storage businesses owned by parent
company. Hired college students in summer as marketers, seeking
new accounts, developing leads for newly created marketing
department to follow up on. Major increases in rental, sales, parts
and service. Sixteen percent rental volume boost.

CLM EQUIPMENT (86) $8.9* $30.0* 4 Heavy equipment specialist along the Gulf Coast, representing

88 East Broussard, La.

Floyd Degueyter
www.clmequipment.com
Case, Kobelco, Kawasaki and others. Carry-deck cranes, crawler
manlifts, wheel and skid-steer loaders, brooms, lube trailers and
more are part of CLM inventory.

CATE EQUIPMENT CO. (86) $8.8* $42.0* 6 More than 60-year-old company with branches in Utah, Nevada,

89 Salt Lake City

Perry Pardoe
www.cateequipment.com
Idaho and Wyoming, with a wide-ranging construction inventory.

ELLEN EQUIPMENT (93) $8.7 $9.9 4 With branches in Colorado and New Mexico, representing Case,

90 Aurora, Colo.
Steve Carlson
www.ellenequipment.com
Link-Belt, Stanley, Sullair and more.

RIVER VALLEY EQUIPMENT (95) $8.1* $17.3* 2 Increased inventory to keep up with strong demand, a big year

91 Edmonton, Alberta
Bud Nowicki
www.rivervalleyequip.com
for Alberta-based heavy-construction equipment specialist.

TOPP PORTABLE AIR (98) $8.0 $12.5 9 A 25 percent rental revenue increase for this specialist in

92 Aston, Pa.
Daniel Topp
www.etopp.com
portable air conditioning, temporary heating and large-area
dehumidification applications for construction, special events,
industrial and military applications.

T-K-O EQUIPMENT CO. (86) $7.9 $14.6 3 Its bread is buttered on the heavy side, used Caterpillar equipment

93 Grand Prairie, Texas

Wilburn Smith/Marlin Smith
www.tkoequipment.com
particularly, such as dozers, scrapers, excavators, compactors, wheel
loaders, motor graders, recyclers, water wagons and off-road trucks.
Has branches in New Braunfels, Texas, and Tulsa, Okla.

ROAD MACHINERY LLC (92) $7.8* $88.0* 9 Celebrating its 50-year anniversary. Has branches in Arizona, New

94 Phoenix
Chuck Paugh
www.roadmachinery.com
Mexico, Texas, California and Sonora, Mexico. Komatsu is its primary
line, but also represents Atlas Copco, Bomag and others. Mitsui acquired
primary ownership of the dealership from Komatsu last month.

LIFTING GEAR HIRE CORP. (--) $7.7 $10.7 7 Niche player owned by British company, which put the word

95 Bridgeview, Ill.
Pat Fiscelli
www.lgh-usa.com
“hire” into name. More than 20,000 certified hoisting, lifting,
pulling, jacking and rigging items in extensive inventory.

*Denotes RER estimate based on regional economic conditions, industry sources and interviews by members of the RER staff. Revenue figures are based on actual reported revenue for North American
operations as of April 25, 2005. Location data are as of April 25, 2005. While every effort is made to ensure accuracy and thoroughness, omissions sometimes occur. All figures are in U.S. dollars. In the
50 MAY 2005 case of some Canadian companies that reported figures in Canadian dollars, the figure listed is based on the average conversion rate for the year according to the Bank of Canada.
 100
Rebound
Low Tech High Tech
The RER 100 Roundtable looks at technology.
RER: How are customers’ expectations changing on the Snyder: We’re seeing a lot of our customers expect us
technological level? to do more with respect to giving them information
after the [rental] so they can better analyze what
Swisher: We do see customers becoming more they’ve been doing with us, in terms of volume and
interested (in electronic services), not so much the transactions and locations.
users out in the field or the site superintendents, but
the more sophisticated buyer who
has a central buying mandate.
So we have spent a significant
amount of time and energy in
looking at how we can leverage “It’s inevitable that we’ll see our
ourselves into our customer base.
Some of that is by simplifying the
industry lean more to possi-
billing process for them, as well as
working on integrated back-office
bly using PDAs and things like
functionality with our customer,
so that they have easier access to
that to order, but a simple tele-
their information and become
more reliant on using us because
phone and a voice on the other
it has streamlined their operations end still has a lot of weight.”
as well.
— Barry Natwick, Volvo Rents
Kneeland: It really comes down
to the accounting services,
supporting the back office,
accounts payable, billing, and there’s project control, Watts: The more we examined it, we realized [the need
budgets for a specific project, that is very useful to is for] simple bits of information: Does somebody have
our customers. It’s not always focused on the main an account open? What is their balance? Are they on
office, but it’s also on projects. Project managers have credit hold? What else do they have on rent? We have a
responsibility for the profitability of their project. staff in the credit department that is in at all hours and
can cover any of those areas. We decided to go low-
Natwick: It’s inevitable that we’ll see our industry lean tech in this regard. Instead of buying computers for
more to possibly using PDAs and things like that to everybody in the field, we just had somebody already
order, but a simple telephone and a voice on the other sitting at a computer on a red line to receive an 800
end still has a lot of weight. But more on the back end, phone call. Our guys get the information they need in
the electronic billing, the accuracy and speed, getting a very timely manner. RER
the machine off-rent, is probably where more of that
would come into play.

51 MAY 2005 WWW.RERMAG.COM 51

 Company Name (Last year’s rank)
Headquarters
Top Officer
Web site
2004 Rental
Volume in
Millions
2004 Total
Volume in
Millions
Number
of Outlets
Editorial Comments
100
COASTLINE EQUIPMENT (--) $7.4 $72.0 5 Primarily known as a Deere dealership in Southern California,

96 Long Beach, Calif.

Del Hosler
www.coastlineequipment.com
covering Central Coast areas as well, with a crane dealership
in Sacramento. Handles Hitachi, Euclid, Stanley-LaBounty,
Wacker, Liebherr and Trail King.

A&G ASSOCIATES (94) $7.4 n/a 13 Flat year for homeowner oriented company, affected by the

97 Leonminster, Mass.
Roger Gamache
taylorrentalcenter.com
continuing expansion of big-box rental departments and other
small local companies that never rented before and now
specialize in niches. Will focus in ’05 on developing more
niches to offset the competition in core rental business.

KNICKERBOCKER RUSSELL CO. (100) $7.3 $18.1 1 Hefty 18 percent rental volume increase for this perennial RER

98 Pittsburgh
Howard Creese
100 listee, which had the most profitable year in its history in ’04.
One of the largest single-location companies in the industry.
www.knickerbockerrussell.com

BINDER MACHINERY (97) $7.2 n/a 2 Although this Komatsu dealer has downplayed rent-to-rent in

99 South Plainfield, N.J.

Robert Binder
favor of rent-to-sell and traditional dealership activities, still
enjoyed a rental volume increase. Found rent-to-rent more
difficult with higher cost of doing business in New York/New
www.bindermachinery.com
Jersey area. Had record sales in ’04, even better with 40-
percent increase in first part of ’05.

PIONEER EQUIPMENT RENTAL (99) $6.4 $8.2 7 Concentrates in small, rural markets with Denton, Texas, and
100 Ponca City, Okla.
John & Larry Redwine
Laughton, Okla., being the company’s largest market areas. Wide
range of inventory with a lot of aerials and earthmoving pieces.
www.pioneerrental.net
*Denotes RER estimate based on regional economic conditions, industry sources and interviews by members of the RER staff. Revenue figures are based on actual reported revenue for North American
operations as of April 25, 2005. Location data are as of April 25, 2005. While every effort is made to ensure accuracy and thoroughness, omissions sometimes occur. All figures are in U.S. dollars. In the
case of some Canadian companies that reported figures in Canadian dollars, the figure listed is based on the average conversion rate for the year according to the Bank of Canada.

The Sales Driver

perspective, some sense of respect and confidence that
you’re going to deliver on your promise. But that’s the
smaller piece of your spend, and it’s the relationship
Thoughts on Marketing that really drives the share of customer spend.

from the RER 100 Roundtable
RER: Let’s take a look at marketing. Historically the outside
salesman has been the primary marketing driver of the
rental business. Is the landscape changing in favor of radio
and television and print ads and Internet marketing or
does it still come down to the salesman heading to jobsites
and going face to face with the customer?
Natwick: From our operations at Volvo, the relationship
is still key. The salesman is going to be the number one
draw. In certain markets, there is some effectiveness
with radio. Television is quite expensive. But what Don
Ahern called “belly-to-belly” communications is still
the main way for us to do our business.
Snyder: Marketing, in my view, kind of drives the
brand and that’s name recognition. From a customer
Watts: Some of us have tried different media in the past,
including us with radio. But we feel personal contact
works the best. We do think that group involvement-type
programs, whether it be a NASCAR event or a sporting
event [is effective], but we try to do that post-transaction.
That’s to thank people for business, as opposed to using
it for a marketing tool to draw them in the door. Once
you succumb to that, they simply have their hand out.
Ahern: I view a salesman’s compensation as a marketing
cost. I put pretty close to all my dollars into the salesmen’s
pockets to drive our company. We do a few events
and we do that also in a “thank-you” fashion. But we
compensate salesmen based on the rental rate they get,
and every month
100
Rebound
our salesmen are
compensated for
getting higher
rates. RER

52 MAY 2005
 100
Rebound Alphabetical List With Rank
A Tool Shed AMECO 83 15
A&G Associates 97
American Equipment Rentals 71
Admar Supply Co. 65
Anderson Equipment Co. 41
Aggreko North America 12
Art’s Rental Equipment 50
Ahern Rentals 13
Battlefield Equipment Rentals 23
All Erection & Crane Rental Corp.
Berry Companies 14 75
All Star Rents Binder Machinery 79 99
Blanchard Machinery 51

Do you have the industry’s

Briggs Equipment 18
California High Reach 85

foremost rental software?

Capital Rentals 76
Cashman Equipment 31
Cate Equipment 89

...we do Clairemont Equipment

CLM Equipment
45
88
Coastline Equipment 96
Compresores & Equipos 62
• Unparalleled rental Coneco Equipment 57
industry experience Cowin Equipment Co. 66
Diamond Rental 73
• Scalable enterprise
Ecco Equipment 26
rental management Ellen Equipment 90
packages Empire Machinery 24
Equipment Depot 44
• Exclusive web-enabling
Essex Crane Rental Corp. 21
technology that gives Finning 17
you 24/7 interactivity G.E. Energy Rentals 20
with your customers Gregory Poole Equipment 46
H&E Equipment Services 10
Handy Rent-All Center 73

800-361-1233 Hawthorne Rent-It Services

Hertz Equipment Rental Corp.
Holt Cat Rental
34
3
22
Holt of California 33
Home Depot Rentals 7
Hugg & Hall Equipment 72
Imperial Crane Services 32
...get smarter Kelly Tractor
Knickerbocker Russell Co.
35
98
www.texadasoftware.com • info@texadasoftware.com Lifting Gear Hire Corp. 95
Location Hewitt 52
Location Simplex 28
Louisiana Machinery 37
Lynn Ladder & Scaffolding 81
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54 MAY 2005
 100
Rebound
MacAllister Machinery 43 Volvo Rents 16
Maxim Crane 8 Waco Scaffolding & Equipment 54
Midlantic Machinery 78 Wagner Rents 25
Midwest Aerials & Equipment 80 Wajax Ltd. 38
Modern Equipment 47 Yancey Bros. 49
Mustang Rental Services 36
National Lift Truck 87
NationsRent 6
Neff Rentals
NES Rentals
North Central Rental & Leasing
9
5
70
OFTEN IMITATED, NEVER DUPLICATED
Northridge Equipment Rentals 39
Ohio Cat 29
Patten Industries 67 Confined
PDQ Rentals 85
Peterson Rents 56 Space Air
Pioneer Equipment Rental 100 Ventilators
Puckett Rents 58
Puerto Rico Wire 61
Rebel Rents 69
Red Mountain Machinery 59
Red-D-Arc Welderentals 27
Rentalmax 84
Ring Power 19
River Valley Equipment 91
Road Machinery 94
Roland Machinery 68
Romco Equipment 77
RSC Equipment Rental 2
Safeworks 64
Scott Construction Equipment 55
Southeastern Equipment 53 8", 12" & 20"
Star Rentals 30 Models
Stephenson’s Rental Services 48 Portable
Stowers Machinery 60
Lightweight
Sunbelt Rentals 4
848-8000 CFM
Sunstate Equipment Co. 11
Temp-Air/Rupp Industries 63 110/220V
Thompson Pump 41 12V DC
T-K-O Equipment 93 Pneumatic

Americ Corporation
Topp Portable Air 92
Trico Equipment 40
United Rentals 1 785 Bonnie Lane, Elk Grove, IL 60007
United Scaffolding 82 800/364-4642; Fax 847/364-4695

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