Neff Rental last week acquired Roseville, Calif.-based Valley Rents & Ready Mix, Valley officials said. Terms of the transaction were not disclosed.
Valley has been a fixture in the Sacramento, Calif., rental market since the company was founded in 1967, and in 2005 was named one of Sacramento’s 50 fastest-growing businesses by the Sacramento Business Journal. It has a branch in nearby Elk Grove, Calif.
With the acquisition, Neff increases its branch operations in the Sacramento area to three and total number of stores nationwide to 66 in 16 states. For Neff, the Valley purchase is its first major acquisition since Odyssey Partners acquired control of Neff with a major re-capitalization in June 2005.
Valley’s owners, Don Bates, Tony Pugh and Don Greene will continue their employment with Neff Rental.
“It was a very difficult decision to sell the company we acquired in 2001, but we are confident that Neff can take the operation to the next level, and we’re looking forward to help them grow this business,” said Bates. “The deal is a great fit for the employees and customers of Valley.”
Hageman, Stansberry & Associates, based in Cameron Park, Calif., and Arlington, Texas, facilitated the transaction and managed it on behalf of Valley Rents & Ready Mix. HS&A is a mergers and acquisitions firm that specializes strictly in the equipment rental and special event rental industry.
Based in Miami, Neff Rental is No. 9 on the RER 100.