JMH Capital has sold the assets of its portfolio company Industrial Rental Services to publicly-traded United Rentals (NYSE: URI).
In 2008, JMH formed Industrial Rental Services to acquire Service Radio Rentals (SRR) and Industrial Blind Solutions (IBS). Industrial Rental Services is headquartered in Houston with additional sales and service offices in major petroleum and oil refining centers.
SRR was founded in 1997 and rents two-way radio communications equipment (radios, repeaters and related accessories) to industrial maintenance providers serving the US oil refinery, petrochemical, pulp & paper, and power generation industries. The company is the largest independent radio rental company serving this market (www.serviceradio.com).
IBS was founded in 2005 to provide both sale and rental of isolation and hydrotest blinds to the US oil refinery industry. Isolation and hydrotest blinds are used in the oil and gas and other industries to isolate a section of pipe, sealing it off so that nothing can flow through, allowing work and inspection crews to perform needed tasks. IBS also provides racking systems that are used to both deliver and store blinds on site (www.industrialblindsolutions.com).
The buy of SRR and IBS expands United Rentals’ specialty tool rental fleet by over 35,000 isolation blinds, flanges and racking systems for industrial applications, as well as approximately 16,000 radios, repeaters and accessories for plant maintenance and construction personnel.
United Rentals is the largest equipment rental company in the world with locations in 49 states and every Canadian province. The company is headquartered in Stamford, CT (www.unitedrentals.com).
JMH Capital makes control investments of up to $25 million to acquire companies that have from $5 million to $150 million of revenue. Sectors of interest include niche manufacturing, specialty chemicals, building products, medical devices, business services, value-added distribution, analytical instruments, food products, and business services. The firm is headquartered in Boston (www.jmhcapital.com).
BlackArch Partners (www.blackarchpartners.com) was the financial advisor to JMH Capital and Industrial Rental Services.
© 2018 Private Equity Professional | April 12, 2018