RSC buys New Jersey aerials rental company
By Murray Pollok03 June 2011
RSC Equipment Rental has agreed to buy New Jersey aerial platform rental company Independent Aerial Equipment (IAE) for an undisclosed sum. The acquisition includes the operations and "certain operating assets".
IAE is privately held and is a leading renter of aerials, telehandlers and other equipment in the states of New York, New Jersey, Connecticut, Maryland, Virginia, Delaware and Pennsylvania. It has three depots, its headquarters in Elizabeth (New Jersey), at Conshohocken (Pennsylvania) and Laurel (Maryland).
The company's fleet is valued at approximately US$50 million at original cost.
"The acquisition of Independent Aerial Equipment expands RSC's footprint in a major market, consistent with our commitment to strategic growth in attractive geographic areas," said Erik Olsson, RSC president and chief executive officer.
"The IAE locations in the Northeast complement our existing national footprint, and the addition of their dedicated employees and customers provides us tremendous opportunity for growth. We are very excited to have this quality company and team join the RSC ranks."