DENVER — HSS RentX continued selling portions of the company, last month selling the Virginia and the northern California regions.
CVR Rentals of Virginia acquired RentX's tool rental centers in Waynesboro, Charlottesville and Richmond, Va. CVR Rentals has existing rental centers in Fishersville, Harrisonburg and Staunton, Va. The RentX Richmond store will be consolidated into the other Virginia locations.
In California, Livermore, Calif.-based Cresco Equipment Rentals acquired the Northern California region of RentX, consisting of locations in Danville, Walnut Creek, Pleasant Hill, Lafayette and Oakland. The five branches belonged to Scotty Rents before being acquired by RentX.
Cresco plans on consolidating the Oakland branch into other existing Cresco locations within 90 days. With the acquisition of HSS RentX's Northern California region, Cresco now has 18 locations in and around the San Francisco Bay area.
“When the region became available, we knew it was a good fit immediately,” said Chris Smith, president of Cresco. “The former Scotty's rental yards are very well known in the community and present yet another excellent growth opportunity for the Cresco family.”
Many of the RentX region's employees are joining the Cresco team.
“We are looking forward to the challenge of integrating our Cresco core values of ‘teamwork, service and fun,’” Smith said. “With the addition of these locations we will better serve all of our customers' rental needs while still maintaining a strong commitment to our communities.”
Cresco plans on a name change for the locations in the near future. Cresco's last acquisition was in May 2004 when it acquired Pleasanton Rentals, Pleasanton, Calif., a single-location equipment and party rental company.
Hageman, Stansberry & Associates, based in Cameron Park, Calif., and Arlington, Texas, is representing HSS RentX in its entire U.S. tool rental divestiture including its general rental stores in Washington, Idaho, California, New Mexico, Colorado, Arkansas, Tennessee and Florida. RentX has previously announced the sale of its Texas, South Carolina and Northern California tool rental divisions.
