United Rentals Neff Corporation Acquisition 2017

United Rentals presents its $1.3B acquisition of Neff Corporation, a leading U.S. earthmoving-focused rental provider with 2017E revenue of $419M. The acquisition is expected to increase operational efficiencies in the Southern U.S., expand infrastructure vertical capabilities, and generate $35M in annual cost synergies by year 2. The transaction is immediately accretive to cash EPS and free cash flow, with close anticipated in Q4 2017.