Sunbelt Rentals Acquires Rental Division of Tower Tech
Sunbelt Rentals has acquired the rental division of Tower Tech Inc., a supplier of portable cooling towers. Sunbelt Rentals, the second largest equipment rental company in North America, is a leader in providing temporary, portable, supplemental and emergency cooling, heating and dehumidification equipment available for rental. Tower Tech will continue to own the manufacturing and sales side of the business, serving customers in providing permanent and temporary cooling power solutions.
G.E. Andersen Partners, LLC, a New York-based investment bank, served as exclusive financial advisor to Tower Tech in the transaction. G.C. Andersen has unique and extensive experience in the industrial and rental service industries, having advised companies serving the construction, environmental, maintenance, utility and energy sectors. The firm’s professionals are active in arranging debt and equity financing for its clients, as well as representing clients as both sell-side and buy-side advisors. Over the last five years, G.C. Andersen has advised in transactions in the industrial services and equipment rental industries with an aggregate transaction value of over $500 million.
Founded in 1985, Tower Tech manufacturers its cooling towers at its plant in Oklahoma City and markets units directly on a worldwide basis to companies and institutions across diverse industries including healthcare, education, hospitality, commercial, industrial and retail.
Sunbelt Rentals has more than 560 locations and is No. 2 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.