RSC Holdings Inc., an equipment rental provider to the industrial, maintenance and non-residential construction markets, has purchased the operations and operating assets of Elizabeth, N.J.-based Independent Aerial Equipment, a privately held aerial rental equipment supplier. Terms of the deal were not disclosed. The acquisition became effective July 8.
"IAE is a leading provider of aerial equipment in the largest metro market in the U.S.," which was a key reason for the purchase, says a spokesperson for Scottsdale, Ariz.-based RSC. The acquired firm will broaden RSC's customer base in the Northeast, particularly in New Jersey, New York City and Long Island. RSC is interested in further acquisitions primarily in its core business, the spokesperson says. He would not elaborate.
RSC has about $2.4 billion of equipment and employs 4,300. IAE has approximately $50 million of equipment. RSC will retain all of IAE's 50 employees, the spokesperson says. The name of the acquired firm will eventually be changed to RSC Equipment Rental, he adds.