Ashtead Group plc Overview
Company Headquarters: London, United Kingdom
Founded: 1947
Workforce: ~ 22,807
Company Working: Ashtead Group plc is a U.K.-based provider of equipment rental services. The company rents an entire range of industrial and construction equipment to a diverse customer base for numerous applications. It offers rental industrial equipment to clients such as construction firms, government agencies, homeowners, broadcasters, and railroads. Ashtead Group PLC engages in equipment rental services. It offers a full range of construction and industrial equipment used in lift, power, generate, move, dig, compact, drill, support, scrub, pump, direct, heat, and ventilated operations. It operates through the following segments: Sunbelt, A-Plant, and Corporate Items. The company also offers equipment tracking with the help of mobile tracking systems. Ashtead Group plc primarily operates in the U.S., Canada, and U.K. It operates under brands Sunbelt Rentals in North America, which includes 811 stores in 46 states and Canada, and A-Plant in the U.K., which includes 197 stores across England, Scotland, and Wales. The U.S. continues to be the biggest and fastest growing market as it is potentially five times bigger than the U.K. market. The company operates through three business segments: Sunbelt US, Sunbelt UK, and Sunbelt Canada. As of April 2022, the company had 1,233 rental stores, more than 900,000 rental assets and 800,000 customers.
Strategy
Ashtead Group Plc's primary business strategy revolves around the equipment rental market. The company aims to be a leading provider of rental equipment by offering a comprehensive fleet of well-maintained, high-quality machinery and tools to meet the needs of its customers. Ashtead Group Plc has been expanding its presence in key markets, primarily the United States and Canada, through its subsidiary, Sunbelt Rentals. The company focuses on leveraging its expertise and established customer base to drive growth in these regions. In addition to expanding its geographic footprint, Ashtead Group Plc has been diversifying its service offerings. The company provides a wide range of equipment and tools, allowing it to cater to various industries and applications. This diversification strategy helps mitigate risks associated with market fluctuations in specific sectors. Ashtead Group Plc places significant emphasis on understanding its customers' needs and building strong relationships with them. By providing excellent customer service and maintaining long-term partnerships, the company aims to retain existing clients and attract new ones.
