BROOMALL, Pa. — Steve DiLoreto has left his position as vice president of rental operations for Downingtown, Pa.-based FMC Rents, and is starting his own rental center, Town Square Rental, in nearby Broomall, Pa.
DiLoreto told RER that for years his goal was to own his own rental company. “For the last 10 years I've wanted to go into business for myself,” DiLoreto explained. “I was in negotiation to buy a [rental business] before I came to FMC. When that fell through I came to FMC and much of what I learned working there will help me now.”
FMC was founded in 1998 after heavy equipment manufacturer Komatsu acquired Furnival Machinery in 1997 and started its own rental operations. DiLoreto, who had worked for 12 years for nearby competitor Modern Equipment, played a leading role in running FMC and helping the Furnival distributorship adapt to a short-term rental culture.
DiLoreto said Town Square Rental, which will be opening its doors this month, is oriented towards the smaller contractor with an emphasis on lighter items than the typical Komatsu inventory. “We'll start with skid-steer loaders, mini-excavators and backhoes,” he said. “Ultimately the customer will dictate what equipment we'll provide.”
Bill Morrow, an outside sales rep with FMC, is partnering with DiLoreto in founding the new business.