Another Acquisition for REIC
Montana, US, based Rental Equipment Investment Corp has purchased the assets and ongoing business of Rent Me Rentals of Cle Elum, Washington - around 70 miles west of Seattle - from owner and chief executive Paul Dearmin. With the addition of Rent Me's branch in nearby Yakima, Washington, REIC now offers a branch network of 30 locations across eight states in Montana, Idaho, Washington, Utah, Oregon, Colorado, Minnesota and Wyoming.
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The Rent Me headquarters in Cle Elum, Washington
REIC was set up by Kevin Fitzgerald in 2014, who describes its strategy as acquiring well run, small to mid size rental equipment companies across the United States, retaining the brand and local feel, while providing access to the resources to upgrade and expand.
He said: “We believe it is essential to maintain the culture and management of each company in order to continue their growth within the local market, while integrating our acquisitions as one company and add value by upgrading equipment inventories along with creating career path advancement for all of our employees. RMR is an excellent well run company with a strong rental business which will add to our network of stores in the Pacific Northwest. Adding these two stores will give us a strong group of stores in central Washington to better serve our customers by adding more equipment and service.”
Paul Dearmin of Rent Me, added: “We are happy to have teamed with REIC and most importantly want to thank all our customers and employees for their work over the past years.”
Based in Kalispell, Montana, Rental Equipment Investment was established in 2014 by Miami based founder Kevin Fitzgerald, who was chief executive of Neff Rentals from 1995 until 2000. Since then, he has held senior roles in the financial sector. This is its 12th acquisition with others including Midway Rental in Montana, Pro Rentals and Sales/Draco in Idaho, Washington, Utah and Oregon, Hillside Rental located in Colorado and Wyoming, Equipment Rentals, Sales & Services/All Rents in Oregon and Washington and last year Construction Heaters of Minnesota, Colorado and Washington.
Other reports on REIC
See: Another consolidator?
See: Another acquisition for REIC
See: Fourth acquisition for REIC
See: REIC acquires All Rents
See: 10th Acquisition for REIC