Gary Stansberry, President of The Stansberry Firm proudly represented a multi-location equipment rental company located in the Northeastern US in its recent acquisition by a major equipment dealer; both the seller and acquirer have chosen to remain anonymous at this time.
“We had a number of interested parties in this business including strategic and financial buyers, as well as another equipment dealership group,” said Gary Stansberry, president of The Stansberry Firm.
Co-Owner of the NE Multi-location Company says of the transaction and his experience working with Gary Stansberry:
As President and part owner of a rental company in the northeast, our ownership and management team decided that 2018 was the right time to sell the business. We knew we had to stay focused on running our day to day operations and would need help in putting the transaction together. We had met with and known Gary Stansberry of The Stansberry Firm for a number of years and decided that his that his knowledge of the equipment rental industry would be best suited for us. This was the best decision we ever made!
Based on the information we provided to him, he was able to outline his opinion of a sale price and proceeded to work with various buyers. He worked through the initial interested parties and got right to a letter of intent quickly. His guidance of the timing and sales price was almost exactly as he had predicted. Gary assisted us in the due diligence process and with our attorney in negotiating the purchase agreement. The care and assistance we received was invaluable and ultimately led to a closing that would have not been possible without his help. He will be forever considered a friend and someone I would highly recommend to anyone attempting to sell a rental business.
Could equipment dealerships be the newest acquirer in the rental market? The Stansberry Firm discusses the possibility of this new trend in our latest blog post.