{"id":29806,"date":"2024-02-05T13:56:43","date_gmt":"2024-02-05T12:56:43","guid":{"rendered":"https:\/\/staging.capitalmind.com\/?p=29806"},"modified":"2025-01-08T08:39:27","modified_gmt":"2025-01-08T07:39:27","slug":"rental-solutions-sector-and-ma-report-2021-22","status":"publish","type":"post","link":"https:\/\/www.investec.com\/advisory\/rental-solutions-sector-and-ma-report-2021-22\/","title":{"rendered":"Rental Solutions &#8211; Sector and M&#038;A Report 2022"},"content":{"rendered":"<p><strong>Considerable M&amp;A activity in the Rental Industry<\/strong><\/p>\n<p>There has been considerable M&amp;A activity in the Rental industry with multiples up to 10x EBITDA. The strongly growing market combined with the complexity, engineering and customisation of solutions are driving margins. These factors also drive valuation multiples, next to the recurring nature of the business.<\/p>\n<p><strong>Key Insights<\/strong><\/p>\n<ul>\n<li><strong>The European Rental Association (ERA) valued the industry at \u20ac26 bln in 2018. The global market being valued at $93 bln (2019) and expected to grow with almost 5% per year until 2027.<\/strong> The biggest market in Europe (although not the strongest grower) is the UK. France and Germany are the two other largest markets in Europe and also among the strongest growing ones. Besides, The Dutch market grows equal to the overall European market, with a 4.4% growth rate.<\/li>\n<li><strong>The use of rental solutions is still strongest in the (construction) equipment market.<\/strong> Although we do see rental solutions spreading over other markets as well, like office equipment, plus industrial and consumer markets.<\/li>\n<li><strong>Key drivers of growth in the Rental industry are:<\/strong>\n<ul>\n<li>The market is growing ahead of the general economy;<\/li>\n<li>Increased regulations around safety asking for the latest up to date solutions;<\/li>\n<li>Increased penetration of rental instead of buying as a result of better use of capital and focus on Total Cost of Ownership decision making;<\/li>\n<li>Increased recognition of the role of rental in ensuring sustainable solutions;<\/li>\n<li>Long-term trend towards \u2018sharing economy\u2019.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Valuation multiples are typically around 7.5x EBITDA<\/strong> with players who are focused on more and\/or relatively rare complex solutions receiving the highest multiples. In addition, the more recurring the business the higher the multiple. Listed companies being valued on an average of 10x EBITDA.<\/li>\n<li><strong>Managing the quality of the (asset) rental fleet is key: maintenance, replacement capex and expansion capex.<\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Considerable M&amp;A activity in the Rental Industry There has been considerable M&amp;A activity in the Rental industry with multiples up&#8230;<\/p>\n","protected":false},"author":55,"featured_media":29823,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[71],"tags":[],"news-event-type":[],"dealtype":[],"class_list":["post-29806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sector-and-product-insights","ps-business-services"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rental Solutions - Sector and M&amp;A Report 2022 | Investec Business Advisory<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investec.com\/advisory\/rental-solutions-sector-and-ma-report-2021-22\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rental Solutions - Sector and M&amp;A Report 2022 | Investec Business Advisory\" \/>\n<meta property=\"og:description\" content=\"Considerable M&amp;A activity in the Rental Industry There has been considerable M&amp;A activity in the Rental industry with multiples up...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.investec.com\/advisory\/rental-solutions-sector-and-ma-report-2021-22\/\" \/>\n<meta property=\"og:site_name\" content=\"Investec Business Advisory\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-05T12:56:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-08T07:39:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.investec.com\/advisory\/wp-content\/uploads\/2022\/01\/Airco-V2-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1748\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"MarjonHaagen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"MarjonHaagen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.investec.com\\\/advisory\\\/rental-solutions-sector-and-ma-report-2021-22\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.investec.com\\\/advisory\\\/rental-solutions-sector-and-ma-report-2021-22\\\/\"},\"author\":{\"name\":\"MarjonHaagen\",\"@id\":\"https:\\\/\\\/www.investec.com\\\/advisory\\\/#\\\/schema\\\/person\\\/b2a37f61a960fbae90998e8e5a5458aa\"},\"headline\":\"Rental Solutions &#8211; 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