Sunbelt Rentals Acquires MSP Equipment Rentals, RG Rents and Others

Sunbelt Rentals has acquired the assets of MSP Equipment Rentals, based in New Castle, Del., among other recent Ashtead acquisitions. Rental industry transaction advisor The Stansberry Firm LLC represented MSP in the transaction.

Michael Roth

June 19, 2017

2 min read

MSP, founded in 1995 by Mike Cassidy, primarily rents reach forklifts, boomlifts and scissorlifts. MSP, which also has a branch in Laurel, Del., services the Philadelphia metro area, the entire state of Delaware, southern New Jersey and northern Maryland. The NSP operations team will join Sunbelt, although Cassidy will focus on other business interests.

“The Stansberry Firm immediately got my attention at our initial meeting and tour of my facilities,” Cassidy said. “The Stansberry Firm’s blend of industry, operational, financial and equipment expertise greatly streamlined the process and resulted in multiple bona fide offers.”

Sunbelt acquired MSP for a cash consideration of about $23 million.

Sunbelt Rentals also recently acquired the business and assets of Los Angeles-based Noble Rents. And in late May Sunbelt acquired the business and assets of RGR Equipment LLC, based in St. Louis and headed by rental industry veterans Dan Tumminello and Joe Alonzo, for a cash consideration of $58 million.

Sunbelt’s U.K. sister company A-Plant acquired the entire share capital of Plantfinder, an aerial work platform rental business in Scotland, for £24 million in cash (about U.S. $30.5 million).

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.