EquipmentShare, an equipment rental and digital solutions provider serving the construction industry, announces the completion of a $290 million funding round led by funds affiliated with BDT Capital Partners. This round also included participation from existing investors such as RedBird Capital Partners, Tru Arrow Partners, and Sound Ventures, as well as several new investors including Brown Advisors.
“Our growth continues to be fueled by new customers who are ready for a technology-driven construction solution,” said Jabbok Schlacks, CEO and co-founder of EquipmentShare. “This latest round of funding brings in growth capital from both new and existing investors. We were pleased to have completed this raise in a challenging macro-economic environment at a valuation that was 40-percent higher than the previous raise in 2021.”
“This successful and substantial equity raise is a testament to the strength of EquipmentShare and our robust growth profile,” said Trevor Schauenberg, chief financial officer, EquipmentShare. “This capital will allow us to expand our U.S. footprint, continue to invest in our T3 technology platform and further strengthen our balance sheet for future opportunities.”
“We’re thrilled to partner with Jabbok and Willy Schlacks and the entire EquipmentShare team to help build the connected jobsite of the future,” said Henry Yeagley, partner and head of Middle Market at BDT & MSD Partners. “Drawing on decades of construction experience, they have created a profitable, fast-growing, tech-enabled business with the potential to meaningfully disrupt the equipment rental market and the broader construction space. This investment is emblematic of BDT & MSD’s merchant banking model and reflects our commitment to supporting strong founders and family owners in this segment of the market as they pursue their long-term strategic objectives.”
Since its founding in 2014, EquipmentShare has experienced rapid growth, spurred by the demand for its fleet management technology and equipment solutions. In 2022 alone, EquipmentShare opened 32 new branch locations and acquired thousands of new customers. Today, its total footprint comprises more than 150 locations, including additional rental, retail and service locations, the company said.
EquipmentShare is headquartered in Columbia, Mo.