United Rentals, Inc. · NYSE:URI
United Rentals — Merger or Acquisition (April 2021)
11 slides from United Rentals's merger presentation, Apr 16, 2021
Slide 1: United Rentals to Acquire General Finance
United Rentals, Inc., 100 First Stamford Place, Stamford, CT 06902. © 2021 United Rentals, Inc. All rights reserved. Investor Presentation April 15, 2021 UNITED RENTALS TO ACQUIRE GENERAL FINANCE
Slide 2: Introductory information
2 Introductory information This presentation contains forward - looking statements within the meaning of Section 21 E of the Securities Exchange Act of 1934 , as amended, and the Private Securities Litigation Reform Act of 1995 , known as the PSLRA . Forward - looking statements involve significant
Slide 3: Transaction highlights
3 Transaction highlights 1) Adjusted EBITDA is a non - GAAP financial measure. See appendix for reconciliation between General Finance’s adjusted EBITDA and N et Income. URI acquiring a leading Portable Storage & Mobile Offices provider with LTM December 2020 revenue of $346M and Adjusted EBITDA of
Slide 4: Investing in Specialty solutions to complement GenRent
4 Investing in Specialty solutions to complement GenRent Aggressive growth in Specialty competitively differentiates our product and solution offering to customers, improves full - cycle returns, and helps reduce business volatility Trench Safety • Excavation support solutions, confined space entry
Slide 5: Strong growth track record for Specialty
5 Strong growth track record for Specialty (1) 1) Tool Solutions was added in 2013 and Fluid Solutions was added in April 2014 2) Reflects pro forma 2020 calendar year revenue for URI Specialty business plus calendarized General Finance total revenue. Note : Data includes 1) Fluid Solutions, Trench
Slide 6: General Finance overview
6 General Finance overview • General Finance provides storage, office container and frac tank rentals and sales under four brands in North America and Australia/New Zealand Rents and sells modular buildings, mobile offices, portable storage containers (US & Canada) Rents liquid storage tanks and rel
Slide 7: General Finance footprint
7 General Finance footprint North America Australia & New Zealand Nationwide footprint enables cross - sell in key markets Largest branch network in Australia & New Zealand • Top 3 portable storage and mobile office player in North America • 63 primary branches in the United States with presence in
Slide 8: General Finance historical Revenue, EBITDA, and EBITDA margins
8 General Finance historical Revenue, EBITDA, and EBITDA margins 1) Adjusted EBITDA is a non - GAAP financial measure. See appendix for reconciliation between General Finance’s adjusted EBITDA and N et Income. Adjusted EBITDA margin represents adjusted EBITDA divided by total Revenue. Revenue ($ M;
Slide 9: Overview of growth opportunity and synergies
9 Overview of growth opportunity and synergies Total Cost Synergies Target by End of Year 2 Cost of Rental SG&A Corporate Expense $17M $65M Total Revenue Synergies Target by End of Year 3 Total Revenue Synergies ($M) Total Cost Synergies ($M) Acquisition supported by strong synergy opportunities in
Slide 10: Appendix
Appendix Q United Rentals
Slide 11: Reconciliation of General Finance Net Income to Adjusted EBITDA
11 Reconciliation of General Finance Net Income to Adjusted EBITDA ($000s) Fiscal Year Ending June 30 LTM 2012 2013 2014 (1) 2015 2016 2017 2018 2019 2020 December 2020 Net Income (loss) $8,742 $11,413 $15,149 $13,045 ($3,286) ($847) ($9,107) ($7,466) $7,954 $4,901 Provision (benefit) for income tax