10.07.2014

Private equity firm acquires CSS

Private equity firm Eberhart Capital has acquired aerial lift and telehandler rental company Contractor Sales & Service of Des Moines, Iowa.

The company was founded in 2006 by Roger Vorhies and Gus Schaus, with Vorhies saying that he looked forward to working with the new owners and benefiting from the additional financial resources.

Eberhart Capital is a relatively small firm founded by Dan Eberhart and specialises in long-term investments in oilfield services, transportation, real estate and manufacturing, this is its first acquisition in the rental sector and the first in Iowa.

"We are very bullish on the Iowa economy, which is why we think CSS is a good investment for us, and Iowa, particularly Central Iowa, has seen tremendous population and GDP growth, and we expect this pattern to continue," said Eberhart.
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