Caterpillar has acquired construction equipment technology company Yard Club for an undisclosed amount. Yard Club specializes in helping distributors and contractors to rent equipment they own when it is not being utilized. Caterpillar made an investment in the peer-to-peer Yard Club in 2015. Yard Club was founded in 2013 and since its investment from Caterpillar has been developing fleet management efficiency software for Caterpillar’s dealer network.
According to Yard Club’s website, the company has processed $120 million in rental transactions in 2016. Competitors in the peer-to-peer equipment rental space include EquipmentShare, Getable and Dozr.
San Francisco-based Yard Club has developed a SaaS platform to help customers manage the equipment they own or rent, including tools for dispatch, scheduling and fleet disability, as well as inspection and maintenance management.
Terms of the transaction were not disclosed.