Ashtead Sees Construction Recovery as It Prepares for US Listing
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Ashtead Plc expects a recovery in the US construction market and bolt-on acquisitions across North America to drive sales, setting it up for a plan to shift its primary listing to New York.
The construction equipment rental firm invested $2.1 billion across existing locations and $56 million on three bolt-on deals in the nine-month period to Jan. 31, adding a total of 54 new locations in North America, it said in a statement. The investments are part of its Sunbelt 4.0 plan, which aims to reach $14 billion revenue in North America by fiscal 2029.