U.S.-based access and telehandler rental company Above and Beyond Equipment Rentals has been acquired by Sunbelt Rentals.
Above and Beyond is based in Madison, Connecticut, with branches in Durham and Stratford, Connecticut.
Sunbelt Rentals acquired the company for an initial cash consideration of $21 million, according to news reports, with an additional $500,000 payable over the next year depending on revenue meeting or exceeding certain thresholds.
Above and Beyond is a privately owned and operated equipment rental, sales, service and parts provider, specialising in boom lifts, scissor lifts, fork lifts, among others. It also represents JLG, Genie, Snorkel and Skyjack.
Craft Partners was the financial advisor to Above and Beyond. “I developed a relationship with Craft Partners over a number of years, well before I was ready to sell,” said Joseph Hill, president of Above and Beyond president. “When the time did come to sell they were the obvious and logical choice for me. We were very satisfied with the process and the result.”