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.