FocalPoint Partners LLC, an independent investment bank specializing in mergers and acquisition, raising capital and financial restructuring, has named rental industry veteran Ira Mendelsohn as equipment rental operating partner in its Los Angeles office. FocalPoint, a two-and-a-half year old company, plans to be a major player in providing capital and performing M&A services to the rental market.
“Ira has been a leading force in equipment rental for more than 30 years in both the United States and United Kingdom,” said FocalPoint managing director Dan Conway. “In addition to being a significant shareholder, he served as CEO of both U.S. Rentals and Acme Rents, predecessor company to RSC Equipment Rental. Ira understands the ins and outs of the business from the ground up. This operational expertise, combined with his transactional experience, will add significant value to our equipment rental clients.” FocalPoint executives point to recent activity — such as the acquisition by Sunbelt Rentals of Northridge Equipment Co.; the acquisition of Hertz by private equity firms, and H&E Equipment Services’ initial public offering filing — as evidence the rental industry is poised for a new round of consolidation.
“After a few difficult years in the industry, I am seeing a renewed energy in the sector along with new strategic thinking,” said Mendelsohn. “I am excited about my association with the FocalPoint team. With our expertise in both M&A and raising capital, we aim to be at the forefront of the activity.”
“We really fundamentally do two things — sell companies and we help entrepreneurs raise money for acquisitions, expansions, building a plant, buying equipment, that type of thing,” Conway told RER. “We’ll focus on entrepreneurial owned companies with revenues of $20 million to $250 million that can’t get the level of service from the banking industry that they deserve.”
More information about FocalPoint can be obtained from www.focalpointllc.com.