EquipmentShare Completes $290 Million Funding Round to Further Growth Efforts
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.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.