Rental Equipment Investment Corp. has purchased all the assets and certain liabilities of Columbia River Machinery, an equipment rental company based in Hermiston, Ore. REIC is an equipment rental holding company with 21 locations in five states.
“Columbia River Machinery is an excellent well-run company with a management team led by Mr. Morgan Neal,” said Kevin Fitzgerald, CEO of REIC. “Having a store already in Bend, Ore., as well as several stores in western Idaho makes this acquisition a perfect fit for our group of stores. We plan to continue to expand in our existing region and look to open up new regions in the near future.”
Rental Equipment Investment Corp., led by Fitzgerald and other private investors, made its first acquisition in December 2014 when it acquired Midway Rental in Montana. In the middle of 2015 REIC acquired Reliable Equipment Rental in Wheatland, Wyo. In January of 2016 it purchased Hillside Rental in Evans, Colo., and in May acquired Pro Rental & Sales, with branches in Idaho, Montana and Oregon.
By: Michael Roth (courtesy of http://rermag.com/)