Edgestone Acquires 80 Percent Stake in Stephenson’s

Stephenson’s Rental Services Income Fund has accepted $6.875 per unit for 7.91 million units of stock from Edgestone Capital, a Canadian private equity firm. The $53 million deal gives Edgestone control of about 80 percent of Stephenson’s.

Edgestone agreed to acquire the stock from the Mississauga, Ontario-based rental company in late May.

Stephenson’s has 18 branches throughout the greater Toronto metropolitan area. The company is No. 40 on the RER 100.