RSC Holdings Inc., one of the largest equipment rental providers in North America, today announced it has entered into an agreement to purchase the operations and certain operating assets of Independent Aerial Equipment (“IAE”) of Elizabeth, N.J. Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions and is expected to close in July.
IAE, a privately held company, is a leading provider of aerial equipment including articulated and telescopic boom lifts, scissor lifts, forklifts and other rental equipment. IAE has approximately $50 million in fleet at original cost, serving industrial and non-residential construction customers located in New York, New Jersey, Connecticut, Maryland, Virginia, Delaware and Pennsylvania.
“The acquisition of Independent Aerial Equipment expands RSC’s footprint in a major market, consistent with our commitment to strategic growth in attractive geographic areas,” said Erik Olsson, RSC president and chief executive officer. “The IAE locations in the Northeast complement our existing national footprint, and the addition of their dedicated employees and customers provides us tremendous opportunity for growth. We are very excited to have this quality company and team join the RSC ranks.”
About RSC Holdings Inc. (NYSE: RRR) and RSC Equipment Rental, Inc.
Based in Scottsdale, Ariz., RSC Holdings Inc. is the holding company for the operating entity, RSC Equipment Rental, Inc. (“RSC”), which is a premier provider of rental equipment in North America, servicing the industrial, maintenance and non-residential construction markets with $2.4 billion of equipment at original cost. RSC offers superior equipment availability, reliability and 24×7 service to customers through an integrated network of 446 rental locations across 41 states in the United States and three provinces in Western Canada. Customer solutions to improve efficiency and reduce cost include the proprietary Total Control® rental management system, Mobile Tool RoomsTM, and on-site rental locations. With over 4,300 employees committed to safety and sustainability, RSC delivers the best value and industry-leading customer service. All information is as of March 31, 2011. Additional information about RSC is available at www.RSCrental.com.