Minneapolis based Hunter Street Partners, an ‘alternative investment management firm’, has set up an investment platform to acquire or invest in equipment rental companies, starting with the acquisition of All-Star Equipment Rental of Naples, Florida.
All-Star was established in 2002 by owners Kevin Duffy and Ed Burun and rents a range of equipment, including telehandlers and aerial lifts with a focus on construction, renovation, landscaping, energy and agricultural companies in the Southwest Florida region.
Hunter Street says it plans to work with the All-Star management team to identify opportunities to expand its fleet and add new equipment and product lines. It will also look at the potential to acquire other regional operators of complementary businesses.
All-Star president Kevin Duffy said: “All-Star is excited to continue supporting contractors getting back to business, and we strongly believe Hunter Street’s support will help us expand our rental offerings as well as our ability to reach a broader range of customers. We are grateful to the hundreds of local businesses we worked with over the last 18 years, and we look forward to continuing to build the All-Star brand with our new partner.”
Hunter Street chief executive Neal Johnson Added: “The Covid-19 pandemic created an imbalance in the equipment rental space, and as the U.S. positions itself for an eventual economic rebound, companies like All-Star will be among the first movers in a recovery. The Southwest Florida equipment rental market will benefit from broader economic factors including the pent up demand for infrastructure spending and homebuilding, and we are excited to work closely with Kevin and the team at All-Star to serve more local businesses.”