Hitachi Construction Machinery Acquires 33.3% Equity Stake in Acme Lift
Hitachi Construction Machinery Co. Ltd. has acquired a 33.3 percent equity stake in Acme Lift Co., Acme Lift announced today. The new joint venture will add HCM earthmoving equipment to Acme’s fleet, which will be made available through Acme’s proprietary re-rental operations to equipment rental companies across North America.
In conjunction with HCM’s equity investment, Acme has restructured its balance sheet to significantly reduce its debt service costs and to provide substantial liquidity to fund its future fleet growth and expansion plans.
“Acme’s rental customer base has been increasingly requesting both wheel loaders and excavators on a re-rental basis,” said Woody Weld, Acme chairman and CEO. “This new partnership with Hitachi Construction Machinery will allow every retail construction equipment rental company in the North American marketplace to have access to a full range of well-proven and highly regarded Hitachi earthmoving products.”
“Acme brings to the venture unique expertise in re-rental of various equipment product classes,” said Yasushi Ochiai, executive vice president in charge of international business for HCM. “Joining forces with Acme furthers HCM’s strategy to strengthen its value chain business.”
HCM will support Acme through the utilization of its existing North American distribution channels. HCM intends to expand Acme’s earthmoving equipment re-rental business and provide overall business support.
Acme Lift will create region support centers for its equipment rental fleet, serving all the major market areas in North America. Once this operational footprint is established, Acme intends to serve its customers’ re-rental requirements from a local rather than national supply base. This will create superior product support and logistical service capabilities closer to each customer and jobsite.
Acme Lift, based in Mesa, Ariz., was established in 1997 and has the largest selection of the newest aerial lifts reaching up to 185 feet; 8,000- to 40,000-pound telehandlers and large portable air compressors available for re-rent. Visit www.acmelift.com.
Hitachi Construction Machinery Co. Ltd. is one of the world’s largest manufacturers of wheel loaders, excavators and mining haul truck and shovels.
Acme Lift is No. 51 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.