WesternOne Equity Income Fund, which has acquired nearly a half dozen rental companies in Western Canada, last week said it signed a letter of intent to buy the assets of an equipment rental and propane distribution business based in Edmonton, Alberta. WesternOne said it would announce other details including the name of the company once a formal acquisition agreement is completed.
“This transaction allows RentalOne to acquire a company with an excellent management team, which is a market leader in its segments in the Northern Alberta equipment rental and propane distribution industry,” said WesternOne CEO Darren Latoski. “This acquisition will increase WesternOne’s exposure to Alberta’s robust construction and infrastructure markets and further geographically diversify WesternOne’s revenues. We will continue to consolidate in this industry as well as adding additional new platform businesses.”
WesternOne, based in Vancouver, B.C., Canada, is seeking to acquire equipment rental businesses in British Columbia, Alberta and Saskatchewan.