Sunbelt Rentals acquired the business and assets of JMR Industries Ltd., a single-location energy-related rental company specializing in renting and selling into the oil and gas industry. Sunbelt acquired the company for an initial consideration of $32 million with deferred consolidation of up to $12 million payable over the next three years depending on future profitability.
JMR, based in Odessa, Texas, rents boomlifts, reach forklifts, generators, light towers, trash trailers and pumps, as well as high-return specialty items specific to the oil and gas industry. JMR’s owners, Jimmy Roark and Jimmy Shelton will remain with Sunbelt to spearhead continued growth of the business.
The Stansberry Firm represented JMR in the transaction.