United Rentals, Inc. has completed its previously announced acquisition of Yak Access, LLC, Yak Mat, LLC and New South Access & Environmental Solutions, LLC (collectively, “Yak”) from Platinum Equity for approximately $1.1 billion in cash. The transaction and related expenses were funded through a combination of newly issued senior unsecured notes and existing capacity under the company’s ABL facility.
Yak is a leader in the North American matting industry with a fleet of approximately 600,000 hardwood, softwood, and composite mats providing surface protection across both construction and maintenance, repair and operations applications. Yak predominantly serves customers in the utility and midstream verticals. For the year ended December 31, 2023, Yak generated $171 million of adjusted EBITDA on $353 million of adjusted revenue across over 40 U.S. states.
United Rentals, Inc. is the largest equipment rental company in the world.
