Platinum Equity to sell Yak Access to United Rentals for $1.1B in cash

Platinum Equity announced the signing of a definitive agreement to sell Yak Access, Yak Mat and New South Access & Environmental Solutions to United Rentals for approximately $1.1B in cash. The transaction is expected to close in the first quarter, subject to limited contractual conditions. Yak predominantly serves customers in the utility and midstream verticals. Platinum Equity acquired a controlling stake in Yak in 2018 from Jones Companies and Beasley Forest Products. The Yak divestiture marks the second time Platinum Equity has sold a business to United Rentals. In 2018, United Rentals acquired Blueline Rentals from Platinum Equity for $2.1B.