Noble Iron Lifts Revenue 27.5 Percent in 2015

Distributor and rental company Noble Iron posted full year revenue of $26.9 million, compared to $21.1 million last year, a 27.5-percent increase.

Michael Roth

April 21, 2016

2 min read

Noble Iron consolidated its Southern California activities into a new large Los Angeles location.

Distributor and rental company Noble Iron posted full year revenue of $26.9 million, compared to $21.1 million last year, a 27.5-percent increase. In the fourth quarter, Noble Iron posted $7.4 million compared to $5 million in the year-ago fourth quarter, a 49-percent leap.

Full year adjusted EBITDA was $1.05 million, compared to $265,000 a year ago.

The revenue increases were because of higher equipment rental revenues, increased sales of software licenses and conversions of existing customers from on-premise software to the company’s SaaS software products.

“Our strategy remains to offer regional construction professionals the most comprehensive selection of equipment and services on-demand, because of a synergistic combination of our logistics infrastructure, equipment service capability, shared asset marketplace, and state-of-the-art technology,” said Nabil Kassam, Noble Iron chairman and CEO. “Many of the major initiatives we began in 2014 and early 2015, including our real estate and operations consolidation in Southern California, reorganizing our teams, investing further in our equipment marketplace, and developing new technologies, have begun to demonstrate positive strategic and financial results.”

During the fourth quarter, Noble Iron completed the consolidation of its Southern California operations into a single location in Los Angeles.

With headquarters in San Francisco, Noble Iron is No. 98 on the RER 100.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.