Los Angeles, CA — Independent Aerial Equipment (“IAE” or the “Company”) has sold substantially all of its assets to RSC Holdings Inc. IAE, based in Elizabeth, New Jersey, 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. Based in Scottsdale, Arizona, RSC Holdings Inc. (NYSE: RRR) is the holding company for the operating entity, RSC Equipment Rental, Inc. (“RSC”), which is a premier provider of rental equipment in North America. FocalPoint Securities, LLC (“FocalPoint”) served as exclusive financial advisor to IAE.
Michael Rand, IAE President and Chief Executive Officer, stated, “RSC is the ideal partner for IAE because we share the same philosophy – providing our customers with quality equipment and a superior level of service. Our customers can expect the same level of dedication under RSC’s ownership.” Going forward, Mr. Rand will serve as RSC’s Senior Executive Director of Business Development.
Dan Conway, a Managing Director at FocalPoint, commented, “We are pleased to have advised IAE on this successful sale. The equipment rental industry went through a severe downturn but IAE thrived even in this environment on the strength of its management team and resilient markets. We were able to highlight these attributes and achieve a successful result for our client.”
About Independent Aerial Equipment
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.
About FocalPoint
FocalPoint is an independent investment bank, specializing in mergers and acquisitions, private placements (both debt and equity), financial restructurings and distressed transactions. The firm serves middle market clients throughout the U.S.
Please contact FocalPoint at 310-405-7000 with any questions about this transaction.