REIC makes another acquisition

US-based Rental Equipment Investment Corp (REIC) has acquired Excavator Rental Services (ERS), also of the US, the company has announced.

ERS is an equipment rental company based in Camas, Washington, and has additional locations in Wilsonville and Hood River, Oregon. REIC, meanwhile, operates 26 locations in six different states across the US.

REIC was formed in 2014 and has designed a platform in which local rental companies can form part of a larger rental company. It is a holding company that invests its capital in purchasing well-run rental equipment companies.

On its latest acquisition, Kevin Fitzgerald, CEO of REIC, said, “ERS is an excellent well-run company that utilises its three locations to primarily serve the southwestern area of Washington and the western region of Oregon.

“ERS will fit perfectly into REIC’s existing network of stores in Oregon and will put us in the state of Washington which we see as a great market for us.”

ERS is led by Jerry and Mary Sauer, and Fitzgerald said that they had built ERS into a market leader in its area. He added, “We are looking forward to working with the ERS team to continue their high growth.”