Client Highlight: United Rentals
S&C supports clients through every stage of growth with its multidisciplinary approach and expertise in all areas of corporate law.
United Rentals is the world’s largest equipment rental company, serving the construction industry, industrial and commercial concerns, and homeowners in 49 U.S. states and 10 Canadian provinces since 1997. The company has grown organically and through a number of acquisitions, creating billions of dollars in value for shareholders. Sullivan & Cromwell has been there for many of the company’s most significant transactions, supporting United Rentals’ transformation with a team of lawyers from multiple practice areas. For each of United Rentals’ corporate milestones, S&C has worked closely with the company’s leadership to help implement the company’s growth strategy through closely coordinated advice, innovative structuring and creative solutions.
S&C’s multidisciplinary approach, working across all areas of corporate law to analyze opportunities and problems from multiple perspectives, allowed lawyers from the Firm’s M&A, Leveraged Finance and Capital Markets groups to play a key role in structuring United Rentals’ $4.2 billion acquisition of RSC Holdings. This was the largest deal in United Rentals’ 14-year history, and was an important milestone in the company’s development into “a North American equipment rental behemoth,” according to the New York Times.
Likewise, United Rentals recently turned to S&C’s Capital Markets and Leveraged Finance lawyers to structure, negotiate and execute a $1.8 billion registered offering of secured and unsecured high-yield notes and amendment and restatement of the company’s asset-based revolving credit facility, which increased available commitments to $2.5 billion.