SOURCE: BlueLine Rental

December 07, 2015 11:54 ET

BlueLine Rental Names Former Aggreko, United Rentals Executive Asterios Satrazemis as CEO

WOODLANDS, TX--(Marketwired - Dec 7, 2015) - BlueLine Rental, a provider of small- to medium-sized construction rental equipment, today announced the appointment of Asterios Satrazemis as CEO, replacing Phillip Hobson. Mr. Satrazemis is expected to start on January 4, 2016.

Mr. Satrazemis was most recently President, Aggreko Rental Solutions, and a member of the Aggreko plc Board of Directors. Aggreko is a publicly traded global provider of power generation and temperature control solutions. Aggreko is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

As head of Aggreko Rental Solutions -- headquartered in Houston with operations in North America, United Kingdom, Europe, and Australia Pacific -- Mr. Satrazemis led a business covering 19 countries, with 2,500 employees, 139 branches, and more than $900 million in revenue.

BlueLine Rental is a portfolio company of Platinum Equity, which acquired the business in January 2014.

"Asterios is the right fit for BlueLine at this stage of the company's evolution and we are excited about the experience and expertise he brings to the company," said Louis Samson, Partner at Platinum Equity. "He is a hands-on leader with strong communication skills and a proven track record of growth."

Before joining Aggreko in 2008, Mr. Satrazemis worked for 10 years at United Rentals in a range of business development and management positions. As Vice President, Southeast Region, he was responsible for branches in Virginia, North Carolina, South Carolina, Georgia and Florida with more than 1,000 employees.

"Asterios knows the industry and understands what it takes to succeed working with customers every day out in the field," said Bryan Kelln, Partner and President of Portfolio Operations for Platinum Equity. "We are confident in his ability to inspire the organization and create strong momentum."

Mr. Satrazemis said he is excited to get to work.

"BlueLine has extraordinary potential, with a strong network, comprehensive fleet and dedicated employees," said Mr. Satrazemis. "I look forward to building on recent growth initiatives by getting out into the regions, connecting with our branches, and working with the teams on the ground."

BlueLine has completed three add-on acquisitions in the past 14 months: JustRuss Rental Inc. in September 2014, Trico Equipment, Inc. in February 2015, and Virginia-based Area Equipment LLC in April 2015.

BlueLine serves a diverse customer base across multiple industries, including construction, oil and gas, industrial manufacturing, infrastructure, power, and metals and minerals. In addition to BlueLine Rental's expanding line of Volvo compaction equipment -- such as backhoe loaders, compact wheel loaders, compact excavators and compaction equipment -- the branches carry a comprehensive line of essential equipment and tools for the construction, commercial, industrial and homeowner markets. The company focuses on daily, weekly and monthly rentals.

For more information about BlueLine Rental, visit www.bluelinerental.com or call 888-899-8658.

ABOUT BLUELINE RENTAL
BlueLine Rental, formerly Volvo Rents, has more than 130 branches across North America. Each branch offers a comprehensive line of essential equipment for the construction, commercial and industrial markets, as well as an extensive line of Volvo compact excavators, compactors, wheel loaders, backhoe loaders and compaction equipment. For more information, visit www.Bluelinerental.com.

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