G. Cooper Equipment Rentals Ltd has agreed to acquire all of the shares of City Rentals Inc, a full-service construction equipment rental company, serving contractors in the Greater Toronto Area. Terms of the transaction were not disclosed, although it is expected to be completed by the end of November. The Toronto-based G. Cooper Equipment Rentals, which operates in the same sector niche as City Rentals, is a portfolio company of Canadian private equity firm SeaFort Capital. The Halifax-based SeaFort, which was launched last year, made a majority investment in the company in June 2013.
G. Cooper Equipment Rentals Announces Acquisition of City Rentals
TORONTO, Nov. 6, 2013 /CNW/ – G. Cooper Equipment Rentals Limited (“Cooper”), the leading compact equipment rental company in the Greater Toronto Area (“GTA”), announced today that it has signed a Definitive Share Purchase Agreement to acquire all of the outstanding shares of City Rentals Inc. (“City Rentals”). The transaction is scheduled to close on or about November 30th, 2013.
Established in 2004, City Rentals Inc. is a full service construction equipment rental company, serving contractors in the Greater Toronto Area. From it’s prime location on Brimley Road in Scarborough, City Rentals has built it’s business through uncompromising dedication to customer service; offering a broad range of quality equipment and supplies, supported by a highly experienced team of over 15 people. The senior management team, including President Larry McCourt, and Vice President Scott MacKinnon will continue in leadership roles with Cooper, and have made a significant investment in the combined business.
“We are excited about the opportunity to strengthen our business in the GTA with the addition of City’s impressive team of rental professionals, and top-notch equipment fleet and facilities,” said Doug Dougherty, President of Cooper. Darryl Cooper, CEO, said, “this acquisition allows us to continue to pursue our goal of continually improving Cooper’s rental services to the GTA contractor base.”
“We had been looking for a way to meet the demands of our ever increasing and loyal customer base at City, and by joining the Cooper team, we believe we have found the ideal way to do that” said Larry McCourt, President of City Rentals. Scott MacKinnon, Vice President, adds, “my customer service philosophy aligns perfectly with Cooper’s, and I am stoked about contributing to the further growth of the fastest growing equipment rental company in the GTA market.”
Established in 1972, Cooper Equipment is a privately owned full service construction equipment rental company, servicing contractors in the Greater Toronto Area. Cooper specializes in compact equipment rentals and offers a broad range of construction equipment and supplies, backed by unparalleled service and support. The company operates four locations, in Rexdale, Scarborough, Downtown Toronto and York Region and has over fifty-five dedicated employees. The company is lead by an experienced senior management team, including CEO Darryl Cooper and President Doug Dougherty. In June 2013 Cooper received a majority investment from Halifax based SeaFort Capital Inc.
Halifax-based SeaFort Capital makes controlling investments in small and medium sized Canadian businesses and partners with experienced managers to build value.
SOURCE G. Cooper Equipment Rentals Limited
G. Cooper Equipment Rentals Limited
Phone: (416) 744-5000
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