RSC Holdings interested in acquisitions to expand geographically, enter new markets

By Jennifer Lanning Drey

Savannah, Ga., Dec. 1 - RSC Holdings Inc. would be interested in making acquisitions to expand the company into new markets or new product lines, Patricia Chiodo, its chief financial officer, said during a Tuesday presentation at the RBC Transportation and Industrials Conference in Miami.

"We are always looking at acquisition targets, and there's more coming onto the market than we've seen in awhile," Chiodo said.

Geographically, the company would be interested in Eastern Canada, while opportunities to get into the tank business and expand in pump-and-power would be interesting market targets, she said.

The CFO also highlighted the company's track record for debt reduction during the presentation. RSC has repaid $950 million of debt since 2006.

"Every dime of free cash flow we have has been used to pay down debt," she said.

Chiodo said the company believes it can stay free cash flow positive over a cycle excluding years of exceptional growth. RSC has stayed free cash flow positive in all but one of its years, she said.

RSC is a Scottsdale, Ariz.-based equipment rental provider.

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