Royal Wolf Australia is growing through acquisition
Royal Wolf Australia, a United Rentals Company, has acquired the container rental, sales and modification division of Price & Speed Containers.
Founded in 1990, Price & Speed operates five businesses at its Botany site in south-eastern Sydney, including a quarantine facility, container depot operations, permanent cold storage and a container rental, modification and sales business.
An Australian family-owned business founded by Kevin Malouf, Price & Speed Containers supplies new and second-hand storage containers for storage, work site accommodation, refrigeration, transportable bars, and modular site facilities.
Royal Wolf managing director Neil Littlewood says Price & Speed Containers is a quality business and a natural fit for Royal Wolf. The acquisition complements Royal Wolf's existing Sydney business and provides substantial synergies.
"We have acquired a hire fleet of around 720 units, with approximately 570 containers currently on hire to 230 customers. We are delighted to be welcoming so many new customers to the Royal Wolf fold," Littlewood says.
The Price & Speed fleet is relatively young, and the mix of units is similar to Royal Wolf's offering, with a generous number of refrigeration units.
"We are confident this acquisition offers huge potential to enhance and strengthen our market-leading position in Sydney and New South Wales, and we look forward to the successful completion of the acquisition process," he adds.