Sunbelt Rentals Holdings, Inc.

Sunbelt Rentals

Formerly known as Ashtead Group plc, Sunbelt Rentals is an international equipment rental company operating under the Sunbelt Rentals brand.

Business lines

• Equipment rental across a broad range of construction, industrial, and general tools (General Tool).
• Specialty rental lines, including power & HVAC, climate control, scaffolding, pump solutions, flooring, trench safety, temporary structures, film & TV gear, ground protection, temporary fencing, and more.

Geographic footprint and segments

• Three reportable segments:
  • North America – General Tool
  • North America – Specialty
  • United Kingdom – General Tool and Specialty

Service model

• North America: clustered-market approach to provide a wide product range and convenient service.
• United Kingdom: regional center model complemented by smaller local locations.
• Focus on cross-selling General Tool and Specialty offerings and delivering full-service, turnkey solutions for megaprojects and ongoing needs.

Products, fleet, and fleet management

• Fleet includes mobile elevating work platforms, forklifts, earthmoving equipment, lighting, small general tools, and specialized lines (power/HVAC, scaffolding, film/TV gear, flooring, pumps, trench safety, ground protection, temporary structures, etc.).
• Fleet management practices: standardized fleets, parts sharing within clusters, and sales of new and used equipment when appropriate.

Technology and safety

• Operates the Sunbelt Edge technology platform for customers and operations, covering CRM, telematics, fleet and logistics optimization.
• Safety programs include Engage for Life, safety training centers, and driver safety technologies.

Financial highlights (fiscal years ended April 30)

• 2026:
  • Revenue: $11,154 million
  • Operating income: $2,181 million
  • Adjusted operating profit: $2,500 million
• 2025:
  • Revenue: $10,791 million
  • Operating income: $2,499 million
  • Adjusted operating profit: $2,615 million

Revenue mix by segment (2026):

• North America – General Tool: 58%
• North America – Specialty: 33%
• United Kingdom: 9%

Scale, customers, and workforce

• Stores and footprint (as of April 30, 2026):
  • Total stores: 1,611 (1,428 in North America; 183 in the United Kingdom; includes 3 in Ireland, Germany, and the Netherlands)
• Fleet and age (as of April 30, 2026):
  • Total serialized fleet average age: 53 months
  • North America – General Tool original cost: $12,946 million; average age ~51 months
  • North America – Specialty original cost: $4,828 million; average age ~56 months
  • United Kingdom original cost: $1,457 million; average age ~57 months
  • Overall original cost of fleet: $19,231 million
• Customers:
  • Approximately 800,000 customers in the United States (2026)
  • Average equipment rental revenue per US customer: about $11,200
  • Top ten customers accounted for less than 10% of total revenue; no single customer accounted for more than 1%
• Employees:
  • Worldwide workforce: 25,751 full-time and 265 part-time
  • By region: 21,826 in North America; 4,190 in the United Kingdom
  • Union presence: about 7% of North American employees are unionized

Revenue sources and cost structure

• Revenue mix (2026):
  • Rentals: 93% of total revenue
  • Used equipment sales: 4%
  • New equipment, merchandise, and consumables: 3%
• Maintenance and service:
  • Maintenance and repair costs: $644 million in 2026; $571 million in 2025
  • Maintenance largely performed by Sunbelt Rentals technicians

Operational focus

• Fleet strategy emphasizes cross-availability, clustered market density, and regional deployment to improve utilization and margins.
• Technology provides sales, operations, logistics, and service support, including telematics and live asset visibility, with integrated procurement and invoicing tools.
• The UK market is mature and competitive, with opportunities for cross-selling and targeted acquisitions to grow share.