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Volvo Exploring Sale of North American Rental Business

Tue May 28, 2013 - National Edition
CEG


Image courtesy of Volvo Rents.  The division may be worth $1 billion to $1.5 billion.
Image courtesy of Volvo Rents. The division may be worth $1 billion to $1.5 billion.

Bloomberg is reporting that Volvo AB the world’s second-largest truckmaker, is exploring the sale of its North American construction-equipment rental business, according to two people familiar with the process.

The division, known as Volvo Rents, may be worth $1 billion to $1.5 billion, said one of the people, who asked not to be identified because the plans are private. No final decision to sell has been made, the person said. Kina Wileke, a spokeswoman at Volvo, declined to comment.

The business has attracted interest from private-equity firms as well as companies, said the person. Volvo Rents operates more than 130 rental stores in North America and offers equipment for construction, commercial and industrial markets, according to its website.

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