Rental Equipment Investment Corp. acquires Indian Peaks Rental

Rental Equipment Investment Corp. acquired the intellectual property rights of CO, LLC d/b/a Indian Peaks Rental LLC. Indian Peaks, based in Tabernash, Colorado, is a full-service general rental company that provides a variety of equipment to the Grand County market. Indian Peaks is the eighth additional REIC acquisition under the Kinderhook property and the twentieth since its inception.

The financial terms of the transaction were not disclosed. Stansberry represented Indian Peaks in the transaction.

“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 supporting our customer-first value proposition,” said Greg Gallagher, CEO of REIC.

Joe Penn, owner of Indian Peaks, said: “We are pleased to announce the sale of the company to REIC. The combined resources and reach of the companies enable Indian Peaks to capitalize on growth in the region while continuing our shared goal of providing the highest level of service to our clients.

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

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.”

Caldera Law served as legal counsel to REIC. Financing for the transaction was provided by a consortium led by PNC Bank, National Association with participation of Flagstar Bank, NA, Axos Bank, BancAlliance Inc., Bank Hapoalim BM, First Merchants Bank, US Bank National Association, Stifel Bank, MUFG Bank, Ltd., Capital One, National Association.

Indian Peaks Rental, located in Tabernash, Colorado, is a full-service rental company providing a variety of equipment to the Grand County market. For more information, please visit: https://www.indianpeaksrental.com.