Cooper Equipment Rental to acquire SMS Rents
By Helen Wright20 October 2015
Canadian rental company G. Cooper Equipment Rentals has announced a deal to acquire SMS Rents, a division of SMS Construction and Mining Systems.
The transaction, backed by Canadian private investment company SeaFort Capital, is expected to close by the end of the year.
Cooper offers compact equipment for rent in the Greater Toronto Areas, operating six full service equipment rental locations.
SMS Rents, a member of the Sumitomo Corporation Group, is a division of a major Canadian construction equipment business and employs over 200 people. It operates 15 branches located across Ontario and Quebec.
Cooper CEO Darryl Cooper, "By combining SMS Rents and Cooper, we are creating a strong Canadian business with considerable scale. Each of our 21 full service branches employs a highly skilled and knowledgeable team and offers a specialised fleet comprised of category leading brands."
Doug Dougherty, president of Cooper, added, "I am confident that the combination of Cooper and SMS Rents will result in exciting new opportunities for all employees and continued great service for customers, over a much broader network. This will also be our first exposure to Quebec and we are excited about the opportunities in this vibrant marketplace."
Established in 2003, SMS Rents offers equipment across several industries, including building construction, infrastructure development, demolition, landscaping, industrial maintenance and mining.
The companies said the two branch networks would continue to operate under their current business names for the immediate future, and through a transitional phase in the New Year.
Mr Dougherty said that the service areas of the 21 locations had almost no overlap, and he added that he did not anticipate any store closures.
President of SMS Rents, Marcel Langlois, said, "Cooper has a proven reputation in the industry for integrity and fresh thinking. The SMS Rents 'Job Ready' approach blends well with Cooper's established culture.
“The Sumitomo Corporation Group has enjoyed its time as it built SMS Rents, and was fortunate to come together with a strong Canadian organization at Cooper that recognises the value of our enterprise.
"Now, with our combined resources, the Cooper/SMS Rents network is uniquely positioned to deliver smart equipment solutions to customers throughout Ontario and Quebec."