I Squared Capital acquires majority stake in Rentco

$$BDO.LiveSite.Deals.Industry$$Retail & Consumer
$$BDO.LiveSite.Deals.ClientName$$I Squared Capital

Rentco provides solutions for its customers’ transportation challenges through heavy-duty transport equipment rentals on a short, medium or long term basis. The strong customer base of Tier-1 transport and logistic providers across different sectors and a leadership team with a track record of expanding the business made Rentco an attractive business for the global private equity firm I Squared Capital.

I Squared Capital is an independent global infrastructure manager with over $37 billion in assets under management focused on investing in North America, Europe, Asia, and Latin America.

I Squared Capital will acquire 80 per cent of the business with the remaining 20 per cent staying with original Rentco owners, John and Bob Shier. I Squared Capital has committed a further $300 million towards the expansion of the business. The acquisition represents an opportunity for I Squared Capital to expand its presence in Australia and complement its other portfolio companies - Clean Energy Fuels Australia and Soilco. Rentco, with this investment, can reach its next stage of growth and benefit from I Squared’s global leasing platforms, including FlexiVan, TIP Trailer Services and Star Leasing.

BDO Corporate Finance and Deal Advisory were engaged to lead the M&A sale and the financial model build.