RSC Holdings has entered into an agreement to purchase the operations and certain operating assets of Independent Aerial Equipment, based in Elizabeth, N.J. Terms of the transaction were not disclosed. The transaction is subject to customary closing conditions and is expected to be finalized in July.
Privately held IAE rents and sells articulated and telescopic boomlifts up to 131 feet, scissorlifts, forklifts and personnel lifts, has about $50 million in fleet at original cost, serving industrial and non-residential construction customers in New York, New Jersey, Connecticut, Maryland, Virginia, Delaware and Pennsylvania. In addition to its Elizabeth headquarters, Independent has branches in Conshohocken, Pa., and Laurel, Md.
“The acquisition of Independent Aerial Equipment expands RSC’s footprint in a major market, consistent with our commitment to strategic growth in attractive geographic areas,” said Erik Olsson, RSC president and CEO. “The IAE locations in the Northeast complement our existing national footprint, and the addition of their dedicated employees and customers provides us tremendous opportunity for growth. We are very excited to have this quality company and team join the RSC ranks.”
Based in Scottsdale, Ariz., RSC Equipment Rental, is No. 2 on the RER 100.