Sunbelt celebrates ‘milesone’ US stock listing

Sunbelt Rentals Holdings said shares of its common stock have commenced trading on the New York Stock Exchange (NYSE) under the ticker symbol ‘SUNB’. A secondary listing on the London exchange went live 8.00am UK time today.

“We’re incredibly excited to achieve this milestone, as part of Sunbelt Rentals’ continued growth journey as a leading rental solutions provider,” said Brendan Horgan, CEO of Sunbelt Rentals. “Over the past several years, Sunbelt Rentals has made tremendous strides growing our rental business in North America while diversifying our customer base and expanding our addressable markets, all while strengthening our culture and improving safety.

“With increased access to the US capital markets, we are well positioned to support the next generation of infrastructure, construction, and the broad non-construction markets across the U.S. and Canada, which we believe will benefit all our stakeholders.”

Photo: Sunbelt Rentals

Sunbelt operates in all 50 states in the US and in eight provinces in Canada. It said the region provided “scale and resilience” and “multiple layers of growth opportunity.”

Alex Pease, chief financial officer of Sunbelt Rentals, added; “We’re incredibly grateful for the Sunbelt Rentals team who has made this relisting a possibility. Their passion and dedication have brought Sunbelt Rentals to this exciting next step on its structural growth journey, showcasing the strength of our scaled platform and commitment to the North American market.

“Our new home on the NYSE will increase our visibility among institutional and retail investors, highlighting our value proposition as the premier choice for equipment rentals and offering our customers a one-stop solution for all their rental needs and services.”

Ashtead’s existing share capital was cancelled in its entirety after 10.00pm UK time on 2 7 February.

Under the new listings, one Ashtead share will be swapped for one Sunbelt share.The company’s new holding company is Sunbelt Rentals Holdings Inc. registered in Delaware, USA, and the final day of trading of its share was Friday 27 March. A UK prospectus for the US listed business was published on 25 February.