Sime Darby acquires Australian B2B equipment rental firm for RM1.92bil

KUALA LUMPUR: Sime Darby Bhd's wholly-owned subsidiary Sime Darby Allied Operations Pty Ltd will acquire Onsite Rental Group Ltd, a market-leading provider of business-to-business equipment rental solutions, for A$635mil (RM1.92bil)

In a statement, the group said Onsite Rental caters for blue-chip customers across a range of industries in the Australian market including resources, energy, industrial and commercial.

“Sime Darby is strategically positioning itself to capture demand across the resources, infrastructure and energy sectors. The Onsite acquisition complements our existing portfolio and provides geographic expansion to position our Industrial division in high growth areas of the Australian market,” said Sime Darby group CEO Datuk Jeffri Salim Davidson.

Onsite employs more than 500 people through a network of over 30 branches across Australia providing dry hire solutions and industry leading “Digital Rental Management” solutions.

It has a large and diverse fleet of over 60,000 assets providing diversification to Sime Darby’s industrial rental equipment offerings across a broad range of industries in Australia.

Jeffri added that Sime Darby has retained Onsite’s management team and looks forward to working with them to build on its leadership in the mining and construction equipment rental market.

“Sime Darby is a natural fit for Onsite, and we are thrilled to be joining forces to build on our great success in the Australian market.

"With this backing, Onsite can invest into adjacencies, achieve supply chain efficiencies, expand into new markets and enhance our offering to accelerate growth and contract wins,” said Onsite CEO Mike Foureur.