At the Stansberry Firm, we’re proud to let our past work speak for itself. We’re not only happy to share these candid testimonials from past clients, but can provide contact information for references specific to our transaction experience. Below are some of our recent success stories.
Herc Rentals has acquired Houston-area rental company Quality Rentals. Founded by rental industry veterans Nathan and Edwin Faltysek in 2002, Quality has served the fast-growing southwest Houston suburbs including Fort Bend, Lavaca and Brazoria counties. Quality offers a broad range of construction equipment to construction trades, industrial plants and manufacturing operations, landscapers, nurseries and farm/ranch operations. The company’s main branch is in Rosenberg, Texas.
According to Nathan and Kera Faltysek, the day-to-day managers of the Quality business, the combination with Herc offers its customers the opportunity to access a broader line of equipment while maintaining the small business feel that has been a trademark of Quality Rentals.
Terms of the transaction were not disclosed. The Stansberry Firm (thestansberryfirm.com) represented Quality Rentals in the transaction. Herc Rentals, headquartered in Bonita Springs, Fla., is No. 3 on the RER 100 with 373 locations in North America.
View original article here.
Rental Equipment Investment Corp., a portfolio company of Kinderhook Industries LLC, has acquired Aim High Equipment Rental Inc. Headquartered in Brighton, Colo., Aim High is an aerial equipment rental, sales, and service company.
Aim High represents REIC’s seventh add-on acquisition under Kinderhook’s ownership and the company’s 19th overall. Financial terms of the transaction were not disclosed.
“Aim High has established a strong reputation of providing high quality rental equipment and services that will fit seamlessly with our existing geographic footprint for our General Rental Division,” said REIC’s CEO Kevin Fitzgerald. “The addition of this location in Colorado will enable us to better serve our customers with additional equipment.”
Amy Sepin, owner of Aim High, said, “We are elated to complete the sale of the company to REIC. Our combined teams have a common mission of providing exceptional services, and our customers and employees will benefit tremendously.”
“Aim High is a highly strategic acquisition for REIC, expanding the density of REIC’s existing footprint. We are excited for REIC to continue its acquisitive track record as a partner of choice in the ongoing equipment rental industry consolidation,” said Paul Cifelli, managing director, Kinderhook.
The Stansberry Firm represented Aim High in this transaction. Aim High is a full-service aerial rental business providing a variety of lift equipment to the Denver metropolitan area. For more information, visit: https://aimhighequipment.com.
Founded in 2003, Kinderhook Industries, LLC is a private investment firm that manages over $5.4 billion of committed capital. For more information, visit: www.kinderhook.com.
REIC was founded in 2014 and headquartered in Kalispell, Mont. In addition to its Kalispell headquarters, REIC serves its customers out of a strategic footprint of 52 locations spanning North America (46 locations in the U.S. and six in Canada). For more information, visit: https://www.reicorporation.com. REIC is No. 31 on the RER 100.
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In its earnings release last week, Sunbelt Rentals announced it has acquired Big Sky Rents & Events Inc., a general tool rental business headquartered in Kalispell, Mont. The ownership group consists of four members of the Sneed family: Chuck and Becky Sneed, and their two sons Adam and Carson Sneed. Chuck and Becky will retire as part of the transaction, and Adam and Carson, who had been running the day-to-day operations of Big Sky, will remain with Sunbelt in similar management roles. Adam and Carson Sneed have both been active with the American Rental Association as well as the Montana ARA.
In June 2022, Big Sky was recognized by the American Rental Association as a “market mover” with Big Sky recognized as one of the fastest growing rental companies in North America with reported growth of 121.4 percent from 2019 to 2021. In November 2021, the company moved into an impressive new facility in southern Kalispell custom built for Big Sky, which will be rebranded as Sunbelt.
The transaction closed February 22, 2023. Terms of the transaction were not disclosed. The Stansberry Firm (thestansberryfirm.com) represented Big Sky Rents & Events Inc. in the transaction. Sunbelt Rentals, headquartered in Fort Mill, S.C., is No. 2 on the RER 100 with more than 1,100 locations.
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Texas First Rentals®, San Antonio, a division of HOLT, has acquired Rental One, Colleyville, Texas. Rental One is a full-service equipment and storage container rental company with a complete line of construction equipment and supplies in 15 locations throughout the Dallas-Fort Worth Metroplex and Central Texas regions.
Texas First Rentals offers rental solutions through its full line of aerial, dirt and portable power equipment. The equipment Texas First Rentals provides includes boom lifts, scissor lifts, excavators, generators, pumps and trench safety equipment.
“Rental One is an excellent strategic and cultural fit that complements our existing products and services,” said Peter Holt, CEO and general manager of HOLT. “More importantly, Rental One is a multi-generational, family-owned Texas company. As a family-owned business ourselves, we know the value of such an organization and what that means to our customers.”
Rental One, founded in 2004 in Colleyville, Texas, with equipment rental roots going back to the 1950s, is a family-owned, full-service equipment and storage container rental company offering a full line of well-maintained, quality construction equipment and concrete, safety, erosion control and construction supplies throughout its locations.
“Our team has worked to build a successful business with meaningful relationships that span three generations,” said Mike O’Neal, president, Rental One. “Our customers will benefit from a broader range of products and combined expertise as we join the Texas First Rentals team. We continue to be committed to providing customers with the best equipment and reliable service they have grown to know.”
With this acquisition, the 300 current Rental One employees, including the leadership team, will become employees of Texas First Rentals and will continue to operate from current Rental One locations.
“I’m confident joining a values-based organization is a positive move for us all,” said O’Neal. “We look forward to collaborating with the Texas First Rentals team to build upon our mutual success.”
This acquisition will allow Texas First Rentals to expand its presence to a total of 40 locations.
Gary Stansberry of The Stansberry Firm, Fair Oaks Ranch, Texas, represented HOLT/Texas First Rentals during this acquisition.
View original article here.
Since 2014, we have relied on Gary and his team to provide acquisition insights, guidance and support. The Stansberry Firm’s commitment to a professional and mutually beneficial outcome is greatly valued, and delivers a transparent acquisition process that achieves a positive result for all stakeholders.
Sunbelt Rentals has acquired Wagner Rental & Supply, which has locations in Chillicothe, New Boston and Jackson, Ohio, and Ashland, Ky.
“We are certain that this new chapter will result in us service our community better and will help advance the careers of all of our current employees,” the company posted on its Facebook page. “After much thought and consideration, we have decided to merge our four locations with Sunbelt Rentals and become part of their team.”
Wagner Rental & Supply has been in business for nearly 75 years. The company primarily rented to small contractors and homeowners, offering a wide range of hand tools, plumbing tools, lawn and garden equipment, track loaders, excavators, skid-steer loaders, floor-care equipment, scaffolding equipment and aerial equipment.
The Stansberry Firm represented Wagner Rental & Supply in the transaction.
Sunbelt Rentals, headquartered in Fort Mill, S.C., is No. 2 on the RER 100 with more than 1,100 locations.
Texas First Rentals is the rental division for Holt Cat. Gary has an ongoing consulting relationship with Texas First and helps their M&A department make strategic decisions to expand their footprint in the Texas rental market. Texas First Rentals is a construction equipment rental company, offering rental solutions through its full line of aerial lift, compaction, air compressor, earthmoving, and power generation equipment. Texas First Rentals has more than 20 equipment rental branches in the state of Texas.
Bruce Richbourg founded Richbourg’s Rentals in Florence in 2003 and grew the business to three locaitons in Florence, Sumter and Columbia, South Carolina. The Company focuses on an industrial related customer base serving clients such as power plants, steel processing and recycling plants, agriculture related canning, processing and distribution, and timber related businesses such as board plants and paper mills.
George’s Tool Rental has been in business since 1970 and has two locations in Hatfield and Danboro, Pennsylvania, in the northern Philadelphia metro area. Owner Marty Leber acquired the business from her father Phil Leber and has provided a broad range of equipment and tools for contractors, landscape related companies and homeowners in the area.
The Stansberry Firm proudly represented Priority in their sale to Herc. Priority rents portable cooling equipment, heaters and ventilation equipment including HEPA air filtration equipment and dehumidifiers. The company’s primary trade areas include Metro Philadelphia, all of New Jersey and Delaware, parts of eastern Pennsylvania, the New York City metro area as well as the Washington/Baltimore area.
Sunbelt Rentals recently acquired Illinois Truck & Equipment, Morris, Ill., and Toolshed Rentals, Escondido, Calif. Illinois Truck & Equipment rents a broad range of equipment ranging from skid-steer loaders and reach forklifts up to larger excavators, wheel loaders, on- and off-road trucks and larger earthmoving equipment.
Both companies were represented by The Stansberry Firm. ITE was ranked No. 73 on the RER 100, making it the third RER 100 firm represented by The Stansberry Firm in the past three years.
The Stansberry Firm proudly represented We-Rent-It, a six-location construction equipment rental company based in Bryan, Texas. The Company is listed number 85 on the RER Top 100 List. H&E is listed as number 10 on the RER Top 100 and will incorporate the additional 6 locations to its existing 89 locations.
The Stansberry Firm brought their many years of experience and vast base of contacts to the table for the acquisition of We Rent It. From the initial meeting to closing day, the professionalism and expertise presented by Gary Stansberry were second to none. He listens to the needs of his clients and does his best to obtain the best possible deal, all while guiding owners through the ins and outs of the many aspects of a complex business transaction. I highly recommend Gary and his team.
The Stansberry Firm proudly represented a multi-location equipment rental company in the Northeastern US in its sale to a major equipment dealership; both the acquirer and seller have chosen not to release their identities at this time. “We had a number of interested parties in this business including strategic and financial buyers, as well as another equipment dealership group,” said Gary Stansberry, president of The Stansberry Firm.
As President and part owner of a rental company in the northeast, our ownership and management team decided that 2018 was the right time to sell the business. We knew we had to stay focused on running our day to day operations and would need help in putting the transaction together. We had met with and known Gary Stansberry of The Stansberry Firm for a number of years and decided that his that his knowledge of the equipment rental industry would be best suited for us. This was the best decision we ever made! Based on the information we provided to him, he was able to outline his opinion of a sale price and proceeded to work with various buyers. He worked through the initial interested parties and got right to a letter of intent quickly. His guidance of the timing and sales price was almost exactly as he had predicted. Gary assisted us in the due diligence process and with our attorney in negotiating the purchase agreement. The care and assistance we received was invaluable and ultimately led to a closing that would have not been possible without his help. He will be forever considered a friend and someone I would highly recommend to anyone attempting to sell a rental business.
The Stansberry Firm proudly represented Liberty Party Rental in its acquisition by CE Rental. Liberty is a full service special event rental company based in Nashville, TN and founded by Bruce and Julie Hurst. The Company rents an extensive inventory of high end inventory of tents, tables, chairs, linens, place settings and other special event rental equipment and has become the leading event rental company in its trade area.
We can’t put it into words the gratitude we have towards The Stansberry Firm for handling our business deal. Gary has decades of experience in executing rental transactions, and it showed during our acquisition. Over ten years ago, we worked with Gary as a consultant to assist with the growth strategy for Liberty Party Rental. We took to heart the recommendations and began implementing. Starting in 2017, we began the process to market the company. Throughout the process, Gary was indispensable with his extensive rental acquisition knowledge as he guided us through this life changing journey. He knew when to push and when to hold. Finally coming to fruition on April 4, 2018, the deal was executed. The Stansberry Firm was key to the growth and sale of Liberty Party Rental. We highly recommend Gary and his team!
EventWorks was proudly represented by The Stansberry Firm in its acquisition by PeachTree Tents & Events. EventWorks is a full service special event rental company based in Charleston, SC, founded in 2010 by Mr. Mike Schmidt and Mr. Jeff Shavelson. The Company also operates locations in Myrtle Beach, SC and Savannah, GA. With extensive high end inventory of tents, tables, chairs, linens, place settings and other special event rental equipment, EventWorks has become a premier provider for the south-eastern US coast.
Co-owner Mike Schmidt said of his experience with The Stansberry Firm:
I would strongly urge anyone looking at selling their business to contact the Stansberry firm. As someone who was somewhat unconvinced early that we needed their help, I am so thankful we did partner with them. There is so much involved in selling your business, that I am certain we would not have had such a successful sale without them. Gary’s experience and knowledge of the industry gave us a trusted advisor creating a transaction much greater and safely structured then we could have done our own, I would highly recommend their services.
The Stansberry Firm proudly represented MSP Equipment Rentals in its acquisition by Sunbelt. MSP was founded in 1995 by Mr. Mike Cassidy to service the significant construction and industrial markets of Delaware, southern New Jersey and northern Maryland. The company primarily rents reach forklifts, boom lifts and scissor lifts from its New Castle, DE hub and Laurel, DE satellite location.
The MSP operations team will remain with Sunbelt as Mr. Cassidy will focus on other business interests. Mr. Cassidy said of his experience working with The Stansberry Firm:
The Stansberry Firm immediately got my attention at our initial meeting and tour of my facilities. It was apparent that they had an industry focus that was lacking in other M&A firms that I had previously met with. The Stansberry Firm’s blend of industry, operational, financial and equipment expertise greatly streamlined the process and resulted in multiple bona fide offers.
The Stansberry Firm proudly represented Tents Unlimited, Event Flooring Solutions and Event Rentals Unlimited (Unlimited Companies) in their acquisition by Peachtree Tents and Events. The Unlimited Companies are based in Atlanta, Georgia with an additional location in Birmingham, Alabama.
The Unlimited Companies were founded and operated by industry veterans Dan Nolan, Sam Wodetzki and Arnie Seyden and are dedicated to servicing high end and large production special events. Combined, the Companies quickly became one of the nation’s largest and most capable providers (Ranked #18 on the Special Events “30 Top Rental Companies”) of large, high end tenting, specialty flooring and other high end special event rental equipment such as tables, chairs, place settings, linens, catering equipment and other related products. Co-owner Dan Nolan said of his experience with The Stansberry Firm:
I want to thank The Stansberry Firm for their efforts in making our transaction a reality. I strongly believe that, without their involvement, we would have never accomplished selling the business for our target goal. Gary has an ability to sort through pages of documents, pages of numbers and identify the pertinent issues that made the most difference to us. My recommendation to any business owner is to not do this alone, their fee is more than worth the money. If you use The Stansberry Firm, you’ve used the best professionals in the business!
The Stansberry Firm proudly represented All Seasons Event Rentals of Kansas City, Kansas in its recent acquisition by M&M Event Rentals. All Seasons specializes in providing high end structure tents and components, bleachers, scaffolding, staging, tables, chairs, linens, table top items, catering equipment, lighting and décor, and other special event-related equipment.
All Seasons was founded in 1981 by brothers Mario and Steve Brancato and quickly grew to be one of the nation’s largest special event rental companies. Though All Seasons does not publicly disclose its revenue numbers, the company would have easily ranked in the special events magazine top 30 largest special event rental companies. Mario Brancato said of his experience with The Stansberry Firm:
We would like to thank Gary and Carolyn Stansberry for helping us navigate the sale of our event rental company. Their expertise and industry knowledge as well as guidance during the due diligence process was instrumental in helping us achieve a successful conclusion to the transaction. They were available to consult with us whenever we needed their assistance. They presented a buyer that we felt aligned with the values and visions that we instilled in All Seasons at the outset. We feel confident that the new owners will continue to grow the great company that we founded. This transaction would not have been possible without the expertise and balance of the Stansberry team. I would highly recommend the Stansberry Firm.
The Stansberry Firm proudly represented Party Time Rentals in its recent acquisition by Premier Events. Party Time was founded in 1976 by Patricia Scarmardo and is the only special events rental provider in College Station, Texas, home to Texas A&M University. Mrs. Scarmardo, who sadly passed away in the spring of 2016, was very active in and loved by the College Station community and was passionate about servicing the community through Party Time and many other community service endeavors. Though she is greatly missed by all, her husband, Bill Scarmardo, is confident that Premier Events of Austin, Texas will gracefully carry on and grow Mrs. Scarmardo’s legacy.
The Stansberry Firm worked closely with Mr. Scarmardo during the process, before and after Mrs. Scarmardo’s passing. Mr. Scarmardo said of his experience with Gary and Carolyn:
I want to thank Gary and Carolyn Stansberry for their patience and professionalism in selling the Party Time Rentals business. Their knowledge and guidance during the process helped reduce our stress during this difficult time for our family. Gary had worked with my late wife Patricia over the years; he knew the business and knew Patricia’s passion for Party Time. In the sale process, The Stansberry Firm brought us several offers and ultimately, we found a buyer that achieved not only our financial goals for the sale, but also found a buyer to continue Patricia’s vision and provide the best fit four our employees and customers.
Yesterday, Herc Rentals announced its full year 2021 results as well as the acquisition of 12 companies made in 2021 for a total of about $477 million.
The acquisitions included not-previously announced Priority Rentals, which rents portable cooling equipment, heaters and ventilation equipment including HEPA air filtration equipment and dehumidifiers. The company’s primary trade areas include Metro Philadelphia, all of New Jersey and Delaware, parts of eastern Pennsylvania, the New York City metro area as well as the Washington/Baltimore area. The Stansberry Firm represented Priority in its sale to Herc.
B&M Equipment Rental and Sales, Inc. (“B&M”) has been acquired by an undisclosed private equity buyer. B&M, based in Gainesville, Florida, also operates a location in Belleview, Florida. The Company has been in business since 1987 and primarily rents aerial equipment, dirt and general construction equipment to construction companies.
B&M owner Gary Branam will retire after a brief transition period. Mr. Branam said the following related to Gary Stansberry and The Stansberry Firm:
Gary was hand-on throughout the process. He brought multiple buyers and multiple offers on our business. We talked strategy throughout and I relied heavily on his vast experience. He familiarized himself with our business and was instrumental in helping us through the due diligence process. He was truly a partner and a trusted friend in advising us through the extremely complex process. I highly recommend The Stansberry Firm to anyone thinking about selling their business.
Herc Holdings Inc., operating as Herc Rentals Inc., announced Jan. 4, that it has acquired substantially all the assets of Houston-based Champion Rentals Inc. Terms were not disclosed.
Champion is a full-service general equipment rental company comprising approximately 100 employees and four locations serving contractors and industrial, manufacturing and government customers in the Houston metropolitan area. The company was founded, owned and led by James Horsley. The addition of Champion expands Herc Rentals’ Houston-area presence to 12 physical locations, which collectively provide general and specialty equipment rental solutions and related services.
The Alleen Company, Cincinnati, Ohio, and Lasting Impressions Event Rentals, Columbus and Cleveland, Ohio, have merged under common ownership.
For 68 years, The Alleen Company has served the Cincinnati area as event rental and tenting professionals. The merger allows the company to offer a greater inventory of tenting, specialty linens, tabletop items, chair styles and many other unique items.
Gary Stansberry of The Stansberry Firm advised The Alleen Company in this transaction.
General Rental Sales & Service has acquired Rent Co., Inc. d.b.a. Dover Rent All Tents and Events of Dover, Delaware. Dover is the second transaction for General Rental since April 2015, when the company began its initiative to expand its special events rental operations in the Mid-North Atlantic region.
Dover specializes in providing high end tents, tables, chairs, place settings and other special event related items to the Delmarva Peninsula. Originally founded in 1966 by Chan and Cal Clapp as a general rental company, Dover Rent All Tents & Events has been operated by Chip Clapp, son of Chan and Cal, for over three decades and has established itself as Delmarva’s premier special event rental company.
General Rental Sales & Service is based in Avondale, Pennsylvania and also operates Event Central of Mechanicsburg, PA. Including the addition of Dover, the company is able to service the entire Eastern portion of Pennsylvania along with all of Delaware, Maryland and Northern Virginia.
Carolyn Stansberry of The Stansberry Firm represented Dover in the transaction. Mr. Clapp will remain with the Company for a transition period before retirement.
Celebration Event Rental of Grand Prairie, Texas (a Dallas suburb) was recently represented by The Stansberry Firm in its acquisition by M&M Event Rentals of Illinois and Texas. Celebration is a single location special events rental company servicing the large Dallas-Fort Worth metroplex through renting a broad range of high quality tents, tables, chairs, linens, place settings, catering equipment and other special event related items.
Celebration was founded in 2008 by Wilbarger Street, a family group of rental industry veterans, and quickly became one of the DFW area’s most prominent special event rental providers. M&M Event Rentals, which operates locations in Illinois and Texas, was recently recapitalized by Dubin Clark & Co., who led the acquisition for M&M.
The Stansberry Firm proudly represented Portable Rental Solutions (PRS) and its sister company One Source Cooling (OSC) in their recent acquisition by Sunbelt Rentals. PRS, a specialty HVAC rental company was founded in 2002 by industry veteran Mr. Austin McCourt.
With locations in Dallas/Fort Worth, Houston, San Antonio, Austin and Waco, Texas, PRS provides portable cooling, heating, dehumidifiers and filtration systems while OSC, the sales arm of PRS, is the exclusive North American distributor of the Airrex brand of spot coolers, heat pumps and filtration systems.
The Stansberry Firm began working with PRS and OSC in 2013, providing Operational Consulting with the ultimate goal of preparing the Companies for future sale. Mr. McCourt will remain with Sunbelt for a transition period.
The Stansberry Firm proudly represented Florida Contractor Rentals (FCR) in its recent acquisition by Synergy Equipment. FCR was founded in 2002 by industry veteran Mr. Cliff Sheffield and operates three locations in Daytona Beach, St. Augustine and Palatka, Florida; at the time of acquisition, the Company was also in the process of opening a fourth location in Jacksonville, FL. FCR has become the largest independently operated construction equipment rental company in the northern Florida region, offering a wide range of earthmoving, aerial and general line construction equipment for rent.
Synergy Equipment, founded in 2012, operates locations in Miami, Tampa, Orlando and Fort Myers, Florida.
Since its inception in 2002, Mr. Cliff Scheffield served as FCR’s President alongside his brother, Mr. John Scheffield, who served as the Company’s Operations Manager. Cliff Scheffield retired post-transaction while John Scheffield will remain with the Company serving a similar role.
Central PA Rental Inc, dba Event Central Rental and Sales was recently represented by The Stansberry firm in its acquisition by General Rental and Sales of Avondale, PA. Event Central is a single location special events rental company based in Mechanicsburg, PA that rents tents and other special events rental equipment such as tables, chairs, linens, place settings, food and beverage service, concessions and more.
Event Central was founded by Mr. Scott Woodruff in 1987, originally as a Taylor Rental center. The Company quickly grew into a well established special events rental center servicing the Harrisburg and central Pennsylvania region. Mr. Woodruff will remain available to Event Central on a consulting basis while he shifts focus to his entrepreneurial venture, TentOx.
General Rental has been owned and operated by Mr. Eric Schuibbeo for 34 years. The transaction is part of the company’s strategic growth plan to geographically expand its special event rental operations. Mr. Schuibbeo looks forward to the future of General Rental and Event Central.
Rental Equipment Investment Corp., a new holding company led by Kevin Fitzgerald, a past CEO of Neff Rental, has purchased all the assets and certain liabilities of Midway Rental & Power Equipment, an equipment rental company based in Kalispell, Mont.
Midway, which was founded in 1978, operates from four locations in Montana, with branches in Whitefish, Great Falls and Shelby. It provides a wide range of industrial and construction equipment for rent and sell to a variety of commercial and retail customers in Montana and surrounding areas.
In addition to Fitzgerald, investors include Wessex Capital Partners LLC, a private investment group and other private investors.
The Stansberry Firm represented Midway Rental in the transaction.
Sunbelt Rentals has acquired Hebbronville Lone Star Rentals, an eight-location energy-related rental company serving the Permian Basin and Eagle Ford oilfields of Texas. HLSR has its corporate office in Midland, Texas, with branches in Alice, Beeville, Carrizo Springs, Charlotte, Laredo, San Angelo and Gonzales, Texas, and Carlsbad, N.M.
The company’s product mix includes aerial lifts, forklifts, transfer pumps, generators, air compressors, portable toilets, trash trailers and bins and light plants.
The announcement was made by parent company Ashtead plc in its quarterly presentation to investors. The Stansberry Firm represented Lone Star in the sale.
Private equity company Eberhart Capital has acquired Contractor Sales & Service, an aerial equipment rental company based in Des Moines, Iowa. Eberhart Capital specializes in long-term investments in key industries such as oilfield services, freight transportation, construction and manufacturing.
Dan Eberhart, managing director for Eberhart Capital, said Iowa’s thriving and diverse business community makes the state a good fit.
“Iowa, particularly central Iowa, has seen tremendous population and GDP growth, and we expect this pattern to continue,” Eberhart said. “We are very bullish on the Iowa economy, which is why we think CSS is a good investment for us.”
Eberhart Capital will acquire CSS’ Des Moines location and its assets. The partners of CSS unanimously approved the transaction. Gary Stansberry from the Stansberry Firm represented Contractor Sales & Service in the transaction.
CSS co-founder Roger Vorhies, who started the company with partner Gus Schaus in 2006, said he is eager to work with Eberhart. “Eberhart Capital has the financial resources and scale advantages to help CSS realize its full potential,” Vorhies said.
CSS specializes in the rental of boomlifts, scissorlifts and forklifts.
Cobra Equipment Rentals, dba We Rent It, an independent construction and oilfield equipment rental company serving central and south Texas, has acquired Longhorn Equipment Co, a two-location construction equipment rental company serving the Austin and San Antonio, Texas, markets.
Longhorn, founded in 2002 by Steve Chamness, has grown to become one of the leading rental companies doing business in the fast-growing central and south Texas markets. Its branches are in Buda (Austin area) and Schertz, in the San Antonio area.
With the addition of the two Longhorn locations, We Rent It now operates from eight locations in Texas, including its existing facilities in Bryan, Pleasanton, Bastrop, Caldwell, Giddings and Eglin.
“I am excited about the combination of Longhorn and We Rent It for our customers and our employees,” said Chamness, who will remain with the company to ensure a smooth transition to We Rent It’s ownership. “We now have access to a larger fleet of late-model equipment. With a total of eight locations, we can provide our customers with increased delivery and hauling capabilities closer to their jobsites.”
The Stansberry Firm (www.thestansberryfirm.com) represented Longhorn Equipment Co. in this transaction. “With the Stansberry Firm’s assistance, we were able to have a smooth closing and transition with the new owners,” said Chamness.
Sunbelt Rentals acquired the business and assets of JMR Industries Ltd., a single-location energy-related rental company specializing in renting and selling into the oil and gas industry. Sunbelt acquired the company for an initial consideration of $32 million with deferred consolidation of up to $12 million payable over the next three years depending on future profitability.
JMR, based in Odessa, Texas, rents boomlifts, reach forklifts, generators, light towers, trash trailers and pumps, as well as high-return specialty items specific to the oil and gas industry. JMR’s owners, Jimmy Roark and Jimmy Shelton will remain with Sunbelt to spearhead continued growth of the business.
The Stansberry Firm represented JMR in the transaction.
Volvo Rents has acquired Action Equipment Rental, a three-location construction equipment rental company based in Las Cruces, N.M., with branches in Alamagordo and Silver City, N.M. The acquisition adds to Volvo Rents’ New Mexico portfolio, already having a rental center in Peralta, N.M.
Gary Stansberry of The Stansberry Firm represented Action Equipment Rental in the transaction.
Volvo Rents added to its ongoing roll of acquisitions with the purchase of Richardson Equipment Co., doing business as R-Quip Equipment Rentals, based in Wichita, Kan., with a branch in Pittsburg, Kan. The stores are the first Volvo Rents branches in Kansas.
Former owner Bob Richardson, who will remain with Volvo Rents as a consultant, founded R-Quip in December 2002. Richardson originally owned AAA Rentals, a multi-location company based in Wichita, until he sold it to RSC in the late 1990s. After his non-compete agreement expired, Richardson founded R-Quip.
Gary Stansberry of The Stansberry Firm represented R-Quip in the transaction.
Volvo Rents has acquired SCS Equipment a two-location independent equipment rental company with stores in Dallas and Wichita Falls, Texas. Volvo Rents now operates 11 rental centers in Texas, already operating in Arlington, Buda, College Station, McKinney, Pharr, Pflugerville, and Seabrook, with two in Houston.
According to a new forecast by economists at HIS Global Insight, Texas will rank second in the U.S. in construction dollars spend from 2011-2016.
SCS Equipment was founded by Mike Price in 1986. Price is expected to remain with Volvo Rents in a sales and consulting role.
Gary Stansberry of The Stansberry Firm, Granbury, Texas, represented SCS Equipment in the transaction.
The Stansberry Firm has a long and storied history of working with businesses in a variety of industries. Here are some examples of just a few of our hundreds of satisfied clients.
I would like to express our appreciation for the professionalism and diligence that Gary and Carolyn Stansberry exemplified during the negotiation, due diligence and transaction process of the recent sale of Celebration. They brought a level of knowledge and expertise to the transaction that exceed expectations.
The Stansberry Firm led the charge with the sale of our company, and we couldn’t be more grateful. Their expertise, forward thinking and pursuit of our best interest won our trust immediately, and in the end, executed a sale that met our highest expectations.
Words cannot describe how impressed I am with Gary and Carolyn’s grasp on this industry; the sale process; the methods to valuation; and above all how to facilitate effective conversation with potential buyers. Had I tried to sell this business myself, I am certain I would have netted much less, let alone the fact it would not be sold yet.
I am very pleased with The Stansberry Firm’s efforts in our recent sale of Florida Contractor Rentals. From day one, it was obvious they knew what they were doing as they outlined the process and went right to work.
"I was very impressed with The Stansberry Firm's expertise, knowledge and contacts; they know the rental industry and they know the oilfield. They quickly brought several serious and qualified buyers to the table. Gary and Carolyn are true professionals and I hope to work with them again in the future."