United Rentals completes Yak purchase

United Rentals has completed the acquisition of temporary roadway rental business Yak Access, Yak Mat and New South Access & Environmental Solutions from Platinum Equity for $1.1 billion in cash.

Yak rents a fleet of 600,000 hardwood, softwood, and composite mats to provide surface protection in construction and maintenance and repair operations, in particular for utility and midstream oil and gas customers. Yak generated revenues of $353 million in the year to 31 December 2023.

Yak rents wood and composite ground mats to customers in utilities and construction. (Photo: Yak Mat Facebook)

Matthew Flannery, chief executive officer of United Rentals, said, “Today we are very excited to welcome Yak to the United Rentals family. This is an acquisition with both strong strategic and financial merits.

“Not only does it augment our growth capacity with the addition of a leading North American matting solutions provider but it also further differentiates our one-stop-shop value proposition to customers.”

The deal was announced on 5 March this year.

Why has United Rentals spent $1.1bn on a temporary roadway business? The deal to acquire Yak will add annual revenues of $350 million, but there are other benefits too