- Founded in 2014 and headquartered in Kalispell, Montana, REIC is a rental equipment services platform
- Financing for the transaction was provided by a PNC Capital Markets bank syndicate
- Kinderhook is invests in middle-market businesses
Rental Equipment Investment Corp, a portfolio company of Kinderhook Industries LLC, has acquired Williston, North Dakota-based Blackout Energy Services, a provider of specialty rental equipment. No financial terms were disclosed.
Blackout Energy represents REIC’s third add-on acquisition under Kinderhook’s ownership and the company’s 15th since inception.
“The acquisition of Blackout Energy is consistent with REIC’s strategy for growing its specialty rental business”, said Paul Cifelli, a managing director at Kinderhook, in a statement. “Following the combination, REIC will now operate 14 standalone specialty locations.”
Financing for the transaction was provided by a PNC Capital Markets bank syndicate, which included Flagstar Bank, BancAlliance, Banc Hapoalim, First Merchants Bank, MUFG Union Bank and Stifel Bank & Trust.
Founded in 2003, Kinderhook Industries manages over $5.3 billion of committed capital. Kinderhook is invests in middle-market businesses.
Founded in 2014 and headquartered in Kalispell, Montana, REIC is a rental equipment services platform.