Rental Equipment Investment Corp. Acquires Black Mountain Rentals
Rental Equipment Investment Corp., a portfolio company of Kinderhook Industries LLC, this week announced the acquisition of Black Mountain Rentals Inc. Headquartered in Pinedale, Wyo., BMR is a provider of general rental equipment primarily serving residential contractors, homeowners, and commercial contractors.
BMR represents REIC’s fifth add-on acquisition under Kinderhook’s ownership and the company’s 17th since its inception. Financial terms of the transaction were not disclosed.
“BMR is an excellent, well-run company with a strong rental business that plugs into our existing geographic footprint for our general rental division,” said REIC CEO Kevin Fitzgerald. “The addition of these two BMR locations in Wyoming further enhances our presence in the Wyoming / Idaho area and will enable us to better serve our customers with additional equipment and service.”
Justin Sandner, president, and co-owner of BMR along with his father, Jim Sandner, added, “We are thrilled to be partnering with REIC. Both companies have very similar corporate cultures and through this new partnership, BMR, its customers, and employees will all benefit greatly.”
“BMR is a highly strategic acquisition for REIC, and we are excited for REIC to continue its track record as a partner of choice in the ongoing equipment rental industry consolidation,” said Paul Cifelli, managing director at Kinderhook.
Nate Druckenmiller, vice president, Kinderhook, added, “The REIC team has done an outstanding job integrating its various acquisitions. We remain enthusiastic about continuing to support the team’s growth strategy.”
Kinderhook Industries LLC is a private investment firm that manages more than $5.4 billion of committed capital, and has have made in excess of 375 investments and follow-on acquisitions since inception.
REIC, founded in 2014 and headquartered in Kalispell, Mont., is a multi-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 products. REIC serves its customers out of a strategic footprint of 50 locations spanning North America (45 locations in the U.S. and 5 in Canada). For more information please visit: https://www.reicorporation.com. REIC is No. 43 on the RER 100.
Black Mountain Rentals, headquartered in Pinedale, Wyo., is a provider of general rental equipment primarily serving residential contractors, homeowners, and commercial contractors. BMR also has a branch in Alpine, Wyo. Visit: https://www.blackmountainrental.com
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.