Rentco Equipment Ltd., with branches in Grand Prairie, Peace River, Fort St. John and Dawson Creek, Alberta, strongly denies it was acquired by Canadian Equipment Rental Fund, doing business as 4-Way Rentals, as was widely reported in the Canadian media as well as RER Reports last week.
“This story is completely false,” Mike Maki, vice president of Rentco Equipment, told RER. “We are much larger than them and we never had any conversations about them acquiring us.”
Rentco posted a statement on its website stating the story is “absolutely false. There have been no negotiations between our companies. There is no truth to this whatsoever.” Maki said the company has received anxious calls from suppliers and customers since the story broke last week.
CERF official Shelley Henschel told RER that the original press release on the acquisition used the term “Rentco” as an acronym, intended to be a generic description of a rental company and that the company had no intention of claiming to be acquiring Rentco Equipment Ltd. as some news outlets interpreted. Henschel explained that CERF has in fact signed a letter of intent to acquire two still-unnamed Alberta-based rental companies, but confirms that it has had no conversations about acquiring Rentco Equipment Ltd.