![]() ![]() “However, opportunities also emerged due to demand for temporary solutions regarding Covid-19 measures, like test- and vaccination centres. “Our Event division was hit hard by the pandemic in the early stages, particularly in the first lockdown of 12 months ago,” Koevoets says. ![]() ![]() These last two, Events and Critical Support, have evolved rapidly due to the Covid-19 pandemic. The Boels Specials divisions include Site Accommodation, Sanitation Services, Power & HVAC, Traffic Service, Industrial, Access control, Site Preparation, Events and Critical Support. “The Boels Specials division has expanded in recent years and in addition to the general rental, we now have the ability to offer a ‘single counter’ that responds to customers’ needs for specialised outsourced equipment and solutions.” “The real value lies in being able to provide a holistic solution through expert knowledge and the right portfolio-mix of specialist equipment.” Koevoets says the company’s rental specialties are structured as an additional layer that spans all Boels’ divisions. He adds, “Customers in these markets are already used to the idea of renting and a specialty focus can broaden companies’ services and add value,” he tells IRN. Interest in specialty is on the rise in many mature rental markets, such as the Benelux countries, Germany and northern Europe, says Rob Koevoets Managing Director Specials Benelux, at Boels Rental. The attractiveness of specialty business can also be gauged by the interest it is generating among private equity businesses, most recently in the case of power renter Aggreko, but also the merger in March of National Trench Safety (NTS) and Trench Plate Rental Company (TPRC) in the US, organised by private equity firm Tailwind Capital. In fact, “the specialty businesses demonstrated the benefit of a broader range of products and end markets with rental only revenue 10% higher than last year.” When Ashstead-owned Sunbelt Rentals posted a 7.5% decline in revenue in its fiscal third quarter ended Janucompared to the same period in the previous year as a result of the pandemic, it confirmed that the decline had been mitigated by its specialty businesses. Specialty does require high levels of expertise and capital-intensive equipment, but it’s also a clear value-add. Specialty rentals have grown in recent years as companies expand their offering to include specialist services - in areas such as site preparation, tanker services, power, temperature control, trenching or rail services – which typically promise higher returns than standard rental products. ![]()
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February 2023
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