Rental Equipment Investment Corp. has acquired Pro Rental & Sales of Idaho, in an all share purchase deal.
Pro Rental was founded in 1998 and operates from 13 locations across three state, with eight branches in Idaho, four in Montana and one in Oregon.
Rental Equipment Investment (REIC) was established by Kevin Fitzgerald -a former chief executive of Neff Rentals - along with Wessex Capital Partners, and other private investors in late 2014. It acquired Midway Rental of Kalispell, Montana - which operated from four locations- in January 2015, See a new consolidator?.
Reliable Equipment Rental of Wheatland, Wyoming followed in July 2015, and Hillside Rental of Evans, Colorado in January See another acquisition for REIC The addition of Pro Rental & Sales takes the REIC network up to 20 locations in five states.
REIC’s 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 our footprint in the northwest of the country while also looking at new regions.”
The owners of Pro Rental, Kim Fowler and Doug Jones added: "We started Pro Rental 18 years ago and are very proud of what we have built and we truly believe that none of this would have been possible without the help and support of our employees, customers and vendors. We believe the combination with REIC will allow for a greater geographic coverage and equipment availability for our customers and more opportunities for all of our employees.”