Sunbelt Rentals, part of the Ashtead Group, has reported record rental revenues of $7.235 billion USD for fiscal year 2022 which ended June 30. Of that $7.235 billion, Sunbelt’s U.S. business grew by 22 percent to $6.477 billion USD, Canadian operations generated $439.11 million USD and UK operations contributed $652.3 million USD to the record total.
An article in Access Lift & Handlers noted that Sunbelt added 123 North American locations in fiscal 2022 of which 88 were new and 35 were expansions of existing facilities for a total investment of $1.3 billion USD.
“This significant investment is enabling us to take advantage of the substantial structural growth opportunity that we see for the business as we deliver our strategic priorities to grow general tool and amplify specialty,” said Brendan Horgan, Ashtead’s CEO.
Executives at major North American lift manufacturers anticipate product demand to soften moderately in 2025.
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