Rental Equipment Investment Corp., a portfolio company of Kinderhook Industries LLC, has acquired Midstream Equipment Corp. Founded in 2015 and headquartered in Calgary, Alberta, Canada, Midstream is a leading provider of specialty rental solutions for high-demand, critical applications in the oil & gas and large industrial sectors. Midstream represents REIC's sixth add-on acquisition under Kinderhook's ownership and REIC’s 18th acquisition since its inception. Financial terms of the transaction were not disclosed.
“We are excited to welcome the Midstream team to REIC,” said Kevin Fitzgerald, CEO of REIC. “Midstream’s product offering and technical knowledge lead the market and we look forward to helping Kyle Twa and Jay Formenti grow the business.”
Twa and Formenti (co-presidents of Midstream) said, “We are looking forward to leading Midstream to the next phase of our growth and we are delighted at the opportunity to join the REIC / Kinderhook portfolio. Increasing our access to the additional resources of REIC will help scale our business and, most importantly, continue to service our customers.”
“The acquisition of Midstream further enhances REIC’s specialty rental offering,” said Paul Cifelli, managing director, Kinderhook. “We are eager to partner with Midstream’s experienced management team who have deep sector expertise and a long history of growing businesses in this market.”
“The REIC team has demonstrated ongoing success in organic growth and seamless integration of acquisitions, leading to enhanced synergies, expanded market share, and accelerated overall growth,” said Nate Druckenmiller, vice president, Kinderhook. We are excited to continue supporting their strategic growth plan.”
Kinderhook Industries was founded in 2003. A private investment firm, it manages more than $5.4 billion of committed capital and has made more than 415 investments and follow-on acquisitions. For more information, visit: www.kinderhook.com
REIC, No. 31 on the RER 100, was founded in 2014 and is headquartered in Kalispell, Mont. REIC is a premier, super-regional rental equipment services platform. REIC offers a broad selection of general and specialty rental equipment. It has 52 locations spanning North America (46 locations in the U.S. and six in Canada). For more information visit: https://www.reicorporation.com/.
Midstream Equipment, based in Calgary, is a provider of specialty rental solutions including compressors, generators, skids, and vapor recovery units. For more information, visit: https://www.midstreamequipment.com.