United Rentals, Inc. Overview
Company Headquarters: Connecticut, USA
Founded: 1997
Workforce: ~ 20,400
Company Working: United Rentals, Inc. offers rental equipment for construction and industrial manufacturers, utilities, municipalities, and government entities. The company operates through two reportable business segments, namely, General Rentals and Trench, Power and Pump. The company operates its construction equipment rentals business through its “general rentals” segment. The company operates through the United States and Canada. The company has an established foothold in North America and holds number one position in the United States. United Rentals operates through a network of 997 rental locations in 49 US states and all Canadian provinces. The company serves 99 of the largest 100 metropolitan areas in the United States. The company's customers include construction companies, industrial companies, manufacturers, utilities, municipalities, and homeowners. Geographic and customer diversity allows United Rentals to better serve national account customers in multiple locations. It also reduces the company's dependence on any particular customer, and helps it to achieve favorable resale prices by allowing access to used equipment resale markets across North America.
United Rentals, Inc. offers rental equipment to construction and industrial sectors, manufacturers, utilities, municipalities, homeowners, and government entities. The company also sells new and used rental equipment, and provides related service and contractor supplies. It offers for rent approximately 3,400 classes of rental equipment. United Rentals' customer service network comprises 997 rental locations in the United States and Canada, as well as centralized call centers and online capabilities. The company operates through two segments, namely, General Rentals and Trench, Power and Pump, which generated revenue of US$5,565 million and US$1,076 million, respectively.
Strategy
The primary strategic areas of the company’s capital are to optimize customer mix and fleet mix to provide better services to target customers, mainly large construction and industrial customers, to continue focus on lean management techniques, like kaizen, across its branch network to reduce the rent equipment cycle time and elapsed time for equipment pickup and delivery and enhance effectiveness and efficiency of equipment repair and maintenance operations. The company aims to expand the trench, power, and fluid solutions’ footprint and open at least 25 specialty rental branches/tool hubs/onsite services locations in 2020, to pursue strategic acquisitions to expand the core equipment rental businessL&T’s 5-year Strategic Plan, ‘Lakshya’, is developed through a collaborative and consultative process across the organization. The Lakshya 2026 plan targets to achieve value accretive growth in the existing businesses through a multipronged approach like selective project bidding, targeting opportunities in line with global ESG trends, riding the momentum in existing and emerging technological trends for services, rejigging business offerings and driving profitability through operational excellence, value engineering and digitalization initiatives.
