FORT LAUDERDALE, Fla. -- NationsRent has completed its long-rumored acquisition of Shrewsbury, Mass.-based Logan Equipment Corp. as well as purchasing two one-location rental companies in the Detroit area.
The buyout of Logan and its affiliated companies marks NationsRent's initial entry into the New England market. Logan, No. 76 on the RER 100, and affiliated companies Action Equipment and Action Supply have 16 locations in six states.
Bryan Rich, president and CEO of Logan, has been appointed senior vice president of NationsRent's Northeast region; Frank Rich, owner and founder of the Action companies, has been named regional sales manager for NationsRent's New England locations.
NationsRent also bought Acme Rental, Fraser, Mich., from second-generation owner Bob Yager, who will serve as an outside consultant to the company. Witt Equipment Co., Traverse City, Mich., was sold to NationsRent by Barry Witt. The two acquisitions combine with NationsRent's purchase last summer of two-location The J. Kelly Co. to form a four-location network in the Detroit area.
Including two acquisitions under definitive agreement and expected to close soon, NationsRent, based here, operates 135 locations in 20 states with annualized run rate revenues of about $440 million.
