Volvo Rents sold for $1.1 billion
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Volvo sells US rental arm in effort to boost profitability
Volvo Rents has around 2,100 employees and operations in the U.S., Canada and Puerto Rico.
Volvo CE has followed up its purchase of Terex’ truck line with an announcement that is to sell its rental business, Volvo Rents, in North America to Platinum Equity, a US private equity firm.
“We looked at different alternatives to grow Volvo Rents’ business and concluded that the best alternative is to sell the operation to another owner,” Volvo Chief Executive Olof Persson said in a statement.
