06.06.2022

A further acquisition for REIC

US rental group REIC (Rental Equipment Investment Corp) has acquired specialist rental business Cahill Services.

Founded in 2015 and based in Houston, Cahill runs a fleet of heating, cooling and lighting equipment including flameless heaters and hybrid lighting towers. It operates from four locations in Canada - Anzac and Red Deer in Alberta, along with Fort St. John and Kitimat in British Columbia - plus two branches, in the USA: Brighton, Colorado and Pittsburgh, Pennsylvania. This is REIC’s 14th acquisition since it was established in 2014 and the second heating and ventilation rental acquisition in four weeks. See: Another acquisition for REIC. No details of the transaction have been disclosed.

Chief executive Kevin Fitzgerald said: “We are excited to welcome the Cahill team to REIC. Cahill's patented JetHeat is the HVAC industry's premier flameless heater and a unique product offering that we are excited to roll out throughout our fleet. The JetHeat helps customers achieve fuel savings, which in turn generates significant cost savings over the duration of a project.”

Cahill chief executive Dennis Haller added: “My team is thrilled about the opportunity to join REIC’s specialty rental division. Cahill has experienced tremendous growth in the past twenty-four months and will now have access to the additional resources of REIC to scale our business and continue capturing market share.”

REIC was itself acquired by US private equity firm Kinderhook Industries in January, its managing director Paul Cifelli said: “The acquisition of Cahill furthers REIC’s mission of becoming a national specialty rental provider and results in 12 standalone specialty rental locations across North America. We are eager to partner with Cahill’s seasoned management team who have deep sector expertise and a long history of growing businesses in specialty rental.”