Up and coming rental company investor Rental Equipment Investment has acquired Hillside Rental of Evans, Colorado in an assets based deal.
Established in 1986 Hillside is a general equipment rental company with a fleet of aerial lifts, including self propelled booms and scissors, along with a few telehandlers.
Rental Equipment Investment (REIC) is a new holding company established by Kevin Fitzgerald. Previously a chief executive of Neff Rental, along with Wessex Capital Partners, and other private investors. The company aims to acquire well run small to mid-sized rental equipment companies and expand them.
Its first acquisition, at the end of 2014, was Midway Rental, a four location operation in Kalispell, Montana with a similar fleet profile to Hillside. In July last year it purchased Reliable Equipment Rental of Wheatland, Wyoming.
Fitzgerald said: “Hillside is an excellent well-run company that has been operating in the North East of Colorado for 30 years. We are excited to purchase the company and continue with its management team. This is our third acquisition since we were established in late 2014 and we plan to continue to expand our footprint through opening new stores and through acquisitions of other rental equipment companies.”