SCOTTSDALE, AZ (Jun 2, 2011) -- RSC Holdings Inc. (NYSE: RRR), one of the largest equipment rental providers in North America, entered into an agreement to purchase the operations and certain operating assets of Independent Aerial Equipment (IAE) of Elizabeth, N.J. Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions and is expected to close in July.
IAE, a privately held company, is a provider of aerial equipment including articulated and telescopic boom lifts, scissor lifts, forklifts and other rental equipment. IAE has approximately $50 million in fleet at original cost, serving industrial and non-residential construction customers located in New York, New Jersey, Connecticut, Maryland, Virginia, Delaware and Pennsylvania.
"The acquisition of Independent Aerial Equipment expands RSC's footprint in a major market, consistent with our commitment to strategic growth in attractive geographic areas," said Erik Olsson, RSC president and chief executive officer. "The IAE locations in the Northeast complement our existing national footprint, and the addition of their dedicated employees and customers provides us tremendous opportunity for growth. We are very excited to have this quality company and team join the RSC ranks."
Based in Scottsdale, Ariz., RSC Holdings Inc. is the holding company for the operating entity, RSC Equipment Rental Inc., which is a premier provider of rental equipment in North America, servicing the industrial, maintenance and non-residential construction markets with $2.4 billion of equipment at original cost. RSC offers superior equipment availability, reliability and 24x7 service to customers through an integrated network of 446 rental locations across 41 states in the United States and three provinces in Western Canada. Customer solutions to improve efficiency and reduce cost include the proprietary Total Control rental management system, Mobile Tool Rooms, and on-site rental locations. All information is as of March 31, 2011. Additional information about RSC is available at www.RSCrental.com.