Rental Equipment Investment Corp., a portfolio company of Kinderhook Industries, has acquired Bigfork Rentals Inc. Based in Bigfork, Mont., Bigfork is a general rental business providing a wide range of general equipment to the Flathead and Lake County markets in Montana.
Bigfork represents REIC’s ninth add-on acquisition under Kinderhook’s ownership and its 21st since inception. Financial terms of the transaction were not disclosed.
Greg Gallagher, REIC CEO, said: “Bigfork has established a reputation for providing high quality equipment and service. The acquisition enhances REIC's presence in Flathead and Lake counties in Montana, enabling us to better serve our customers in the region.”
“I am excited to have completed the sale of the company to REIC,” said Steve Ricci, Bigfork owner. “I want to thank all of our employees and customers for their work and loyalty over the years to build Bigfork into what it is today. I also want to thank the rental industry for all their support and for the opportunity to serve their members.”
“The geographic proximity of Bigfork to our other general rental locations makes this acquisition highly strategic for REIC as we continue to build density,” said Paul Cifelli, managing director, Kinderhook. “We are excited for REIC to continue its acquisitive track record that has established the business as the partner of choice in the ongoing consolidation of the equipment rental industry.”
Kevin Fitzgerald, executive chairman of REIC, added, “Bigfork is an excellent company with a customer-first focus that will fit seamlessly into our general rental platform.”
Caldera Law served as legal counsel to REIC. Financing for the transaction was provided by a syndicate led by PNC Bank, National Association with participation from Flagstar Bank, N.A., Axos Bank, BancAlliance Inc., Bank Hapoalim B.M., First Merchants Bank, U.S. Bank National Association, Stifel Bank, MUFG Bank, Ltd., Capital One, National Association
Founded in 2003, Kinderhook Industries, LLC is a private investment firm that has raised $8.5 billion of committed capital. For more information, please visit: https://www.kinderhook.com.
Founded in 2014 and headquartered in Kalispell, Mont., REIC is a is a premier, super-regional rental equipment services platform. REIC offers a broad selection of general and specialty rental equipment. The company’s general rental fleet includes aerial, earthmoving, power, compression, and other small equipment pieces, while the specialty rental segment is focused on HVAC and compression products. In addition to its Kalispell headquarters, REIC serves its customers out of a strategic footprint of 54 locations spanning North America (48 locations in the U.S. and six in Canada). For more information please visit: https://www.reicorporation.com/. REIC is No. 28 on the RER 100.
