Daily Newsletter

27 March 2024

Daily Newsletter

27 March 2024

Sumitomo subsidiary Sunstate acquires TSR 

The acquisition is expected to expand Sunstate's existing trench safety equipment rental business.

Upasana Mukherjee March 27 2024

Sumitomo’s subsidiary Sunstate Equipment has acquired all assets and operations of US-based trench safety equipment rental company Trench Shore Rentals (TSR). 

TSR’s business and services are focused across the US states of Arizona, California, and Texas. 

TSR’s safety equipment is used to secure earth and sand in trenches and is said to ensure the safety of workers engaged in construction projects. 

This acquisition is expected to double Sunstate’s share of the trench safety rental revenues and strengthen its market position in the south-west US. 

According to information posted by Sumitomo, the trench rental market is expected to grow, reaching approximately Y300bn ($1.98bn) by 2025, driven by increasing infrastructure projects and tightening safety standards at construction sites.  

TSR’s acquisition is noted to be in alignment with Sunstate’s core markets.  

The deal is also expected to expand Sunstate’s existing trench safety equipment rental business. 

Sunstate is said to have been growing its branch network and diversifying its product offerings since its acquisition by Sumitomo Corporation in 2017.  

The company aims to leverage TSR’s specialised knowledge in trench rental to further enhance its industry expertise and grow revenue. 

Sumitomo, headquartered in Chiyoda-ku, Tokyo, Japan, aims to improve safety and productivity within the construction industry while supporting global infrastructure development. 

In September 2022, the company announced plans to build what is said to be the world’s largest electrical wiring harness manufacturing factory in Egypt. 

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