RSC Acquires Independent Aerial Equipment
Purchase expands RSC presence in Northeastern U.S.
RSC Holdings Inc. (NYSE: RRR), has completed the purchase of the operations and certain operating assets of Independent Aerial Equipment (IAE) of Elizabeth, N.J. Financial terms of the transaction were not disclosed.
"The IAE acquisition aligns with our strategy of growth in geographic areas of opportunity, broadening our customer base in New Jersey, New York City and Long Island -- the largest metro market in the U.S.," said Erik Olsson, RSC President and Chief Executive Officer. "The expansion of our footprint in the Northeast provides attractive opportunities for growth by increasing access and availability for new and existing customers in the region."
Privately-held IAE is a leading provider of aerial rental equipment, including articulated and telescopic boom lifts, scissor lifts, forklifts and similar equipment. IAE serves industrial and non-residential construction customers located in New York, New Jersey, Connecticut, Maryland, Virginia, Delaware and Pennsylvania with approximately $50 million in fleet at original cost.
"IAE has established itself throughout the Northeast by delivering exceptional service to customers who have come to trust the company with its aerial equipment needs," said Phil Hobson, RSC Senior Vice President of Operations. "We are excited to welcome IAE's dedicated employees and loyal customers to RSC, where our focus is on operational excellence that benefits our customers and shareholders."
