20.09.2022

Another acquisition for REIC

US rental group REIC (Rental Equipment Investment Corp) has acquired North Dakota based rental company Blackout Energy.
Based in Williston, North Dakota, Blackout is owned by Danny Morton and offers a range of lighting towers, heaters, air compressors and fuel cubes. No details of the transaction have been released.

REIC was established as holding company in 2015 by Kevin Fitzgerald of KCE Capital, who served as chief executive of Neff Rentals between 1995 and 2000. The company’s first acquisition was Midway Rental & Power Equipment of Kalispell, Montana. Since then, the company has made 14 further acquisitions including this one, and was itself acquired by Kinderhook Industries earlier this year.

Speaking of his 15th deal, chief executive Kevin Fitzgerald who also retains a stake in the business, said: “The Blackout Energy acquisition continues the growth of our specialty rental division, REIC Specialty and expand our flameless heaters and light tower product offerings in the growing area of North Dakota and its surrounding states.”

Danny Morton of Blackout Energy added: “I am very excited to join the REIC Specialty team. Combining our team with the resources of REIC and Kinderhook will allow us to grow the business to better service our customers the way we have been striving for.”