Stephenson’s Rental Services, previously known as Stephenson’s Rent-All, last week reached an agreement to acquire Core Rentals, a three-branch general rental company based in Pickering, Ontario, Canada, with branches in Brampton and Gormley. The three cities are all located in the greater Toronto area. Stephenson’s, based in the Toronto suburb of Mississauga, has, prior to the acquisition, 17 branches in the Toronto area. Company officials expect the transaction to be completed by the first week of November.
Core Rentals was founded in 1959, beginning with small tools and later expanding its fleet to include larger equipment. Stephenson’s is celebrating its 50th anniversary this year, giving the two companies a combined 95 years of experience in the rental industry.
Stephenson’s and Core will operate together while maintaining their individual corporate culture and operating with what company officials term “a high level of autonomy.” Stephenson’s will continue its focus on small to medium equipment and Core will function as the company’s heavy equipment division.
“The branches will keep the Core Rental name, so they will be co-branding with Stephenson’s,” Linda Carr, director of marketing for Stephenson’s told RER. Carr added that the former owners and staff of Core will stay on with the company.
Stephenson’s, No. 51 on the RER 100, plans to continue growth through cold starts and strategic acquisitions.
