The Home Depot announced a definitive agreement to acquire Compact Power Equipment Rental, a national provider of equipment rental and maintenance services that has been its time commercial partner since 2009, for $265 million in cash. The transaction is expected to close by the end of Home Depot’s fiscal second quarter.

Compact Power Equipment Rental provides compact equipment rentals at more than 1,000 Home Depot stores in the United States and Canada. CPER also provides equipment maintenance services to a range of customers, including The Home Depot.

“We’ve worked closely with the talented team at Compact Power Equipment for many years and are delighted to welcome them to the Home Depot family,” said Craig Menear, chairman, CEO and president of The Home Depot. “The acquisition allows us to further improve the customer experience – in particular for Pros – through enhanced equipment and tool rental offerings. It also allows us to grow Compact Power’s best-in-class building services capabilities.”

The Home Depot offers tool and equipment rentals at about 1,300 of its more than 2,100 locations in North America.

“With a collective focus on convenience and execution, together our companies will be even stronger to serve customers while remaining on the cutting edge of life-cycle management for commercial equipment,” said Roger Braswell, CEO, Compact Power Equipment Rentals.

Headquartered in Atlanta, The Home Depot is No. 5 on the RER 100, with $693 million in 2016 rental volume.