Rental Equipment Investment Corp acquires Pro Rental
By Helen Wright02 June 2016
US equipment rental holding company Rental Equipment Investment Corp (REIC) has acquired Pro Rental & Sales, with 13 depots in Idaho, Oregon and Montana.
The bolt-on deal is the latest in a string of acquisitions since REIC was founded in 2014 by former Neff Corp CEO Kevin Fitzgerald and other private investors.
As a result of the Pro Rental & Sales deal, REIC now has 20 locations in five states, including its Midway Rental depot in Montana, Reliable Equipment Rental in Wyoming, and Hillside Rental in Colorado.
REIC chairman and CEO Mr Fitzgerald said, “Pro Rental fits perfectly with our existing group of stores, and is an excellent and well-run company.
“We are looking forward to working with the Pro Rental team to build a company that remains locally managed and customer driven. REIC plans to continue to grow its footprint in the northwest of the country, while also looking at new regions.”
Meanwhile, Kim Fowler and Doug Jones, owners of Pro Rental, said, “We believe the combination with REIC will allow for greater geographic coverage and equipment availability for our customers and more opportunities for all our employees.”