Investment management team Hunter Street has sold its Florida-based All-Star Rents platform to Herc Rentals. Herc is the third largest equipment rental company in North America with 333 locations.
The initial acquisition in September 2020 of All-Star and launch of the equipment rental investment platform grew from a single-site operator to three locations in central and south Florida: Sarasota, Orlando, and Naples. All-Star specializes in the rental and sales of light and compact equipment.
"We are incredibly proud of the growth at All-Star and were pleased to see the strong interest from the Herc team in adding All-Star's equipment rental locations to their platform,” said Andrew Platt, partner at Hunter Street. “Over the course of our investment, All-Star took a strong foothold in two additional cities across Florida, positioning the platform for continued expansion and success moving forward."
"We believe it's an opportune time to sell the All-Star platform to the Herc team, who are committed to growing their business globally and providing All-Star continued support to evolve and expand their rental offerings and reach an even broader range of customers," said Neal Johnson, CEO and chief information officer at Hunter Street. "All-Star benefited from strong tailwinds related to the economic recovery, and the sale reflects strong performance and growth of the platform over the last two years, which ultimately benefits the company's customers and employees."
Hunter Street is a Minneapolis-based alternative investment management firm that provides creative capital solutions to operating partner teams and small to mid-sized companies for special situations, asset-based financings, and secondary purchases. The firm is focused on special opportunities across corporate finance, real estate, and specialty finance. Learn more about Hunter Street at www.hunterst.com
Herc Rentals is No. 3 on the RER 100.
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.