REIC in Colorado acquisition

Miami-based holding company Rental Equipment Investment Corp has acquired Indian Peaks Rental. No financial details of the deal have been disclosed. 

Headquartered in Tabernash, Colorado, Indian Peaks is a full-service general rental business providing a variety of equipment to the Grand County market, including earthmoving, material handling and compaction.

The purchase of the company is REIC’s eighth add-on acquisition since it was acquired by private investment firm Kinderhook in 2022, and its 20th since it was founded in 2014.

Greg Gallagher, chief executive officer, REIC, said, “The acquisition of Indian Peaks strengthens REIC’s regional presence in the Mountain West, enhancing our ability to respond quickly to customer needs and further supporting our customer-first value proposition.”

Joe Penn, owner of Indian Peaks, added, “The combined resources and footprint of the businesses position Indian Peaks to capitalize on growth in the region while continuing our combined goal of providing top notch service for our customers.”

According to Paul Cifelli, managing director of Kinderhook, Indian Peaks is “positioned strategically” to benefit from the growth and capital investments in the Winter Park ski area.

He said, “The REIC team has an exceptional track record of efficiently and seamlessly integrating prior acquisitions, garnering a reputation as the acquirer of choice in the continued consolidation of the equipment rental industry.”

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Mr. Kevin Fitzgerald, executive chairman of REIC, said “We are excited to add Indian Peaks to our general equipment rental network. The Company’s entrenched local presence combined with proximity to other REIC locations will create tailwinds to support future growth.”

Speaking to IRN earlier this year, Fitzgerald said the company will “continue to be acquisitive” and add to its fleet in existing stores as it seeks organic growth.

Caldera Law served as legal counsel to REIC for the acquisition of Indian Peaks Rental.

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