Ashtead Group
Sunbelt Rentals Holdings is an international equipment rental company operating approximately 1,098 stores across the US, Canada, and the UK, renting construction and industrial equipment on usage-based terms to contractors, industrial operators, and megaproject developers primarily in North America.
- Company typePublic
- Founded1947
- HeadquartersLondon, United Kingdom
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
What Ashtead Group does
Sunbelt Rentals Holdings, Inc. (NYSE: SUNB; formerly Ashtead Group plc, LSE: AHT) is an international equipment rental company that operates approximately 1,098 stores across the United States, Canada, and the United Kingdom. The company rents construction and industrial equipment on a daily, weekly, and monthly basis to a diverse customer base spanning non-residential construction contractors, industrial operators, and megaproject developers in data center, semiconductor, and LNG infrastructure segments. Revenue is organized into two operating segments: North America General Tool (general construction equipment, $5.89B in the most recent fiscal year) and North America Specialty (power generation, complex scaffolding, and specialized industrial equipment with in-house product experts, $3.31B), with the UK contributing the residual amount.
The business operates a fleet-based asset-heavy model. The underlying technology stack is anchored by IoT-enabled telematics that support fleet tracking, utilization monitoring, and predictive maintenance. Pricing is usage-based with quote-driven terms for specialty applications and volume discounts for large contractors. Go-to-market is executed through direct enterprise field sales, key account management, and a physical store network clustered in major U.S. metropolitan areas from the Atlantic to the Pacific coast, all eight Canadian provinces, and the UK. The company completed its redomicile to a Delaware holding company with a primary NYSE listing on March 2, 2026, reflecting that more than 90% of revenue is generated in North America.
Financially, the company reported FY2025 revenue of $10.79 billion (down approximately 1% year-over-year), a net profit margin of 12.83%, return on equity of 20.18%, and free cash flow of $2.17 billion. It carries a debt-to-equity ratio of 142.74 and trades at roughly 16x earnings. The company is pursuing a "Sunbelt 4.0" efficiency strategy targeting 25% EBITA margins by FY2029, while continuing a $1.5 billion share buyback and executing intermittent bolt-on acquisitions such as Plantfinder (Scotland) in 2017.
Ashtead Group firmographics
Firmographics- Name
- Ashtead Group
- Legal name
- Sunbelt Rentals Holdings, Inc.
- Website
- https://ashtead-group.com
- Company type
- Public
- Founded year
- 1947
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Sunbelt Rentals Holdings is an international equipment rental company operating approximately 1,098 stores across the US, Canada, and the UK, renting construction and industrial equipment on usage-based terms to contractors, industrial operators, and megaproject developers primarily in North America.
- Ownership category
- akta.pro rank
Ashtead Group industry classification
Industry- Product category
- Equipment Rental Services
- NAICS
- Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing (532412), Commercial and Industrial Machinery and Equipment Rental and Leasing (5324), Construction, Transportation, Mining, and Forestry Machinery and Equipment Rental and Leasing (53241)
- SIC
- Services-Miscellaneous Equipment Rental & Leasing (7350), Services-Equipment Rental & Leasing, Nec (7359)
- akta.pro primary industry
- Earthmoving & Excavation Equipment Rental/Leasing (TLABAFAA)
- akta.pro secondary industry
- Lifting & Hoisting Rental & Leasing (IMAHAJAN)
Keywords
Where Ashtead Group is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
Ashtead Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Equipment Rental Revenue: Core rental revenue from construction and industrial equipment rented to customers on daily, weekly, and monthly basis. Revenue is generated from North American rental operations (General Tool and Specialty segments), UK operations, with rental revenue up 4% year-over-year. North American rental revenue includes General Tool at $5.89 billion and Specialty at $3.31 billion.
- Share Buyback Returns: Capital return program through $1.5 billion share buyback, having repurchased roughly 380,000 shares as part of the program
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | General Tool rental rates for non-residential construction equipment |
| Usage-based | Pay-as-you-go | Specialty equipment rental for specialized applications |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels2 records
Ashtead Group product offering
Product offeringCore offering
Ashtead Group (now Sunbelt Rentals Holdings, Inc.) is an international equipment rental company that rents a full range of construction and industrial equipment across a wide variety of applications to a diverse customer base, operating through two segments: North America General Tool (general construction equipment for the non-residential construction market) and North America Specialty (specialty equipment with in-house experts for complex applications such as data centers, semiconductor plants, and LNG infrastructure). Equipment is rented on daily, weekly, and monthly terms through approximately 1,098 stores across the United States, Canada, and the United Kingdom.
Product overview
Sunbelt Rentals Holdings, Inc. (formerly Ashtead Group plc) is an international equipment rental company operating under the Sunbelt Rentals brand with national networks in North America and the UK. The company offers a comprehensive portfolio organized into two primary business segments: North America General Tool, which provides general construction equipment rental services across metropolitan areas from the Atlantic to Pacific coasts in the US and across all eight Canadian provinces; and North America Specialty, which delivers specialized equipment solutions with in-house experts for complex applications. The company operates approximately 1,098 stores serving diverse customers in construction, industrial, and related sectors.
Differentiator
Problem solved
Functional benefit
Brands
- North America General Tool: General equipment rental business operating across North America, typically serving the non-residential construction market with equipment rented from stores in major metropolitan areas from Washington DC and Baltimore on the Atlantic Coast through Florida to Los Angeles and Seattle on the West Coast, and across all eight provinces in Canada.
- North America Specialty
Products and services
- Sunbelt Rentals Equipment Rental Services International equipment rental service offering a full range of construction and industrial equipment rented on daily, weekly, and monthly terms to a diverse customer base through approximately 1,098 stores across North America and the United Kingdom.
- North America General Tool Equipment Rental General equipment rental business operating across North America, serving the non-residential construction market with a wide range of equipment — including aerial lifts, earthmoving, material handling, and power generation — rented from stores clustered in major metropolitan areas from Washington DC and Baltimore through Florida to Los Angeles and Seattle, and across all eight Canadian provinces. North America General Tool rental revenue was $5.89 billion in FY2025.
- North America Specialty Equipment Rental Specialty equipment rental business operating across North America with in-house experts in each business line providing in-depth product and application knowledge, focused on complex customer requirements for megaprojects including data centers, semiconductor plants, and LNG infrastructure. North America Specialty rental revenue was $3.31 billion in FY2025.
Quantifiable outcome
- Net profit margin of 12.83%
- +3 more outcomes
Companies that use Ashtead Group
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles4 records
Ashtead Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Ashtead Group partnerships and signals
Strategic signalScale indicators11 records
Recent moves8 records
Expansion highlights5 records
Ashtead Group competitors and assessment
Company assessmentDirect peers
- Aggreko: UK-listed specialist in temporary power generation and temperature-control equipment rental. Overlaps significantly with Sunbelt's Specialty power-generation and industrial offerings, particularly in the UK and for megaproject deployments.
- United Rentals: Largest equipment rental company in North America, offering a broad portfolio of construction and industrial equipment with a similar store-network model. Directly comparable to Sunbelt's General Tool and Specialty segments and the primary benchmark for the industry.
- Herc Holdings: Public equipment rental company (NYSE: HRI) operating across North America with a mix of general tool and specialty offerings, including aerial, material handling, and industrial equipment. Closely comparable peer in size, strategy, and customer focus to Sunbelt Rentals.
- H&E Equipment Services: US-focused equipment rental and sales company (NASDAQ: HEES) serving non-residential construction and industrial customers. Smaller than Sunbelt but with a directly comparable business model and product mix centered on aerial, earthmoving, and material handling equipment.
Broad incumbents
- Terex Corporation: Manufacturer of aerial work platforms, cranes, and materials processing equipment that are core categories in Sunbelt's rental fleet. An OEM incumbent that influences pricing, supply, and innovation but does not directly compete in rental store operations.
- Caterpillar: Global manufacturer of construction and mining equipment with a sizable Cat Financial rental/leasing arm. Not a direct competitor to Sunbelt's rental stores but a major incumbent shaping customer equipment choice, aftermarket economics, and end-market demand for rental fleets.
- The Manitowoc Company: Leading manufacturer of cranes and lifting equipment sold into the same construction and infrastructure end-markets Sunbelt serves. Indirectly comparable as the OEM behind much of the specialty lifting fleet rented by Sunbelt and competitors.
Regional players
- Speedy Hire: UK-listed equipment rental and services provider serving construction, infrastructure, and industrial customers. Operates in the same UK geographies and product categories as Sunbelt's UK operations, making it the most relevant UK regional peer.
- HSS Hire Group: UK-focused tool and equipment rental company serving construction, industrial, and events markets. Comparable in product breadth but does not directly compete in North America where Sunbelt generates over 90% of revenue.
Emerging players
- Nesco Holdings: Specialty equipment rental provider focused on aerial platforms, crane trucks, and specialty heavy equipment serving infrastructure and industrial end-markets. Smaller and more specialized than Sunbelt but addresses overlapping customer needs in the Specialty segment.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Ashtead Group social profiles
Digital presenceAshtead Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ashtead Group leadership team
Management profileNumber of profiles
Profiles5 records
Ashtead Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ashtead Group M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ashtead Group
What does Ashtead Group do?
Ashtead Group (now Sunbelt Rentals Holdings, Inc.) is an international equipment rental company that rents a full range of construction and industrial equipment across a wide variety of applications to a diverse customer base, operating through two segments: North America General Tool (general construction equipment for the non-residential construction market) and North America Specialty (specialty equipment with in-house experts for complex applications such as data centers, semiconductor plants, and LNG infrastructure). Equipment is rented on daily, weekly, and monthly terms through approximately 1,098 stores across the United States, Canada, and the United Kingdom.
Is Ashtead Group a public or private company?
Ashtead Group is a public company. It is classified as public and is currently operating.
When was Ashtead Group founded?
Ashtead Group was founded in 1947. It employs 5,001 to 10,000 people.
Where is Ashtead Group based?
Ashtead Group is headquartered in London, United Kingdom, in the Europe region.
How does Ashtead Group make money?
Two revenue lines are on record. Equipment Rental Revenue is the primary driver. The others are share Buyback Returns.
Who are Ashtead Group's main competitors?
Direct peers on record are Aggreko, United Rentals, Herc Holdings and H&E Equipment Services. Broad incumbents are Terex Corporation, Caterpillar and The Manitowoc Company. Regional players are Speedy Hire and HSS Hire Group. Nesco Holdings is listed as an emerging player.
Does Ashtead Group have an API?
No public API is recorded for Ashtead Group.
What industry is Ashtead Group in?
Ashtead Group's product category is Equipment Rental Services. Its primary akta.pro industry code is TLABAFAA, Earthmoving & Excavation Equipment Rental/Leasing, with a secondary code of IMAHAJAN, Lifting & Hoisting Rental & Leasing. Its NAICS code is 532412 and its SIC code is 7350.