Hitachi Construction Machinery Co. Ltd. has acquired a 33.3 percent equity stake in Acme Lift Co., Acme Lift announced today. The new joint venture will add HCM earthmoving equipment to Acme’s fleet, which will be made available through Acme’s proprietary re-rental operations to equipment rental companies across North America.
In conjunction with HCM’s equity investment, Acme has restructured its balance sheet to significantly reduce its debt service costs and to provide substantial liquidity to fund its future fleet growth and expansion plans.
“Acme’s rental customer base has been increasingly requesting both wheel loaders and excavators on a re-rental basis,” said Woody Weld, Acme chairman and CEO. “This new partnership with Hitachi Construction Machinery will allow every retail construction equipment rental company in the North American marketplace to have access to a full range of well-proven and highly regarded Hitachi earthmoving products.”
“Acme brings to the venture unique expertise in re-rental of various equipment product classes,” said Yasushi Ochiai, executive vice president in charge of international business for HCM. “Joining forces with Acme furthers HCM’s strategy to strengthen its value chain business.”
HCM will support Acme through the utilization of its existing North American distribution channels. HCM intends to expand Acme’s earthmoving equipment re-rental business and provide overall business support.
Acme Lift will create region support centers for its equipment rental fleet, serving all the major market areas in North America. Once this operational footprint is established, Acme intends to serve its customers’ re-rental requirements from a local rather than national supply base. This will create superior product support and logistical service capabilities closer to each customer and jobsite.
Acme Lift, based in Mesa, Ariz., was established in 1997 and has the largest selection of the newest aerial lifts reaching up to 185 feet; 8,000- to 40,000-pound telehandlers and large portable air compressors available for re-rent. Visit www.acmelift.com.
Hitachi Construction Machinery Co. Ltd. is one of the world’s largest manufacturers of wheel loaders, excavators and mining haul truck and shovels.
Acme Lift is No. 51 on the RER 100.