As of 2023, Coates is valued at A$1.87 billion of hire equipment at original cost.

[1] Coates was founded in 1885 as a small engineering company in Melbourne.

It diversified into equipment hire in the years following World War II when a vibratory roller was purchased and lent to potential customers on a Try Before You Buy policy.

Coates was listed on the Australian Securities Exchange (ASX) in 1955.

Coates has been a regular sponsor of Supercars teams and events.