REIC Foreclosure in Colorado – International Rental News

Miami-based holding company Rental Equipment Investment Corp has acquired Indian Peaks Rental. No financial details of the transaction were disclosed.

Indian Peaks, based in Tabernash, Colorado, is a full-service rental company that provides a variety of equipment to the Grand County market, including earthmoving, material handling and compaction.

The company’s purchase marks the eighth additional REIC acquisition since it was acquired by private investment firm Kinderhook in 2022 and the 20th since its founding in 2014.

Greg Gallagher, CEO of REIC, said: “The acquisition of Indian Peaks strengthens REIC’s regional presence in the Mountain West, enhancing our ability to respond quickly to customer needs and further support our customer-first value proposition.”

Joe Penn, owner of Indian Peaks, added: “The combined resources and reach of the businesses position Indian Peaks to benefit from growth in the region while continuing our shared goal of providing the highest level of service to our customers.”

According to Paul Cifelli, managing director of Kinderhook, Indian Peaks is “strategically positioned” to benefit from growth and capital investment at Winter Park Ski Area.

He said: “The REIC team has an exceptional track record of successfully and seamlessly integrating prior acquisitions, earning a reputation as the buyer of choice in the continued consolidation of the equipment rental industry.”

Interview: Kevin Fitzgerald talks about REIC's increased focus on specialty rentals

Kevin Fitzgerald, executive chairman of REIC, said: “We are excited to add Indian Peaks to our general equipment rental network. The Company’s established local presence, combined with its proximity to other REIC locations, will support future growth.”

I spoke to IRN earlier this yearFitzgerald said the company will “continue to make acquisitions” and expand its fleet at existing stores as it pursues organic growth.

Caldera Law served as legal counsel to REIC in its acquisition of Indian Peaks Rental.