Rental Equipment Investment Corp. Acquires Total Construction Rentals, Inc.

Miami, FL – Rental Equipment Investment Corp. (“REIC’), a portfolio of Kinderhook Industries,

LLC (“Kinderhook”), announced today the acquisition of Total Construction Rentals, Inc. (“TCR”)

TC represents REIC’s first add-on acquisition under Kinderhook’s ownership and the Company’s

13th since inception. The financial terms of the transaction were not disclosed.

TCR is a specialty equipment rental company focused on the rental of heaters, air conditioners,

coolers, fans and dehumidifiers. Founded 13 years ago, TCR operates over a seven-state region,

including Delaware, Pennsylvania, Virginia, New Jersey, Washington D.C., New York and

Maryland. REIC is an equipment rental holding company operating 33 locations, including 27

general rental stores and six specialty rental stores. REIC operates its stores under several brand

names, each of which, is a leading local rental operator in its respective region. REIC’s acquisition

of TCR accelerates its strategic growth in the specialty rental segment, where REIC employs a

differentiated floating fleet strategy.

Mr. Kevin Fitzgerald, Chief Executive Officer of REIC, commented, “We are excited to continue

our growth story with the addition of TC, a business that shares our customer-first orientation.

With this acquisition, REIC will now have seven specialty rental locations and our first location on

the East Coast. Following this acquisition, REIC will offer specialty rental equipment in 27 states.

Our goal is to become a nationwide specialty rental operation which will allow us to better serve

our growing customer base.”

Mr. Tim Cairo, Owner of TC, added, “I am excited to have completed the sale of the company

and I want to thank all of my employees, customers, and suppliers for their work over the years

building TC into what it is today. I look forward to partnering with REIC to continue growing the

TC name and expanding its geographic coverage area.”

“The acquisition of TCR is consistent with REIC’s strategy for growing its specialty rental business

and gives the company an established HVAC provider in the Mid-Atlantic”, said Paul Cifelli,

Managing Director at Kinderhook. “We are excited to continue aggressively invest and grow the

specialty rental business going forward.”

“TCR is a highly strategic acquisition for REIC, and we are excited for REIC to emerge as the

partner of choice in the ongoing specialty equipment rental industry consolidation,”

said Nate Druckenmiller, Vice President at Kinderhook.

About Kinderhook Industries

Founded in 2003, Kinderhook Industries, LLC is a private investment firm that manages over $5.2

billion of committed capital. We have made in excess of 300 investments and follow-on acquisitions

since inception. Kinderhook’s investment philosophy is predicated on matching unique, growth-

oriented investment opportunities with exceptional financial expertise and our proprietary network

of operating partners. Our focus is on middle market businesses with defensible niche market

positioning in the healthcare services, environmental / business services, and automotive / light

manufacturing sectors. We have a track record of successfully and consistently building industry

leaders.

For more information, please visit: www.kinderhook.com

About REIC

Founded in 2014 and headquartered in Kalispell, MT, REIC is a premier, super-regional rental

equipment services platform. REIC offers a broad selection of general and specialty rental

equipment. The Company’s general rental fleet includes aerial, earthmoving, power, compression

and other small equipment pieces, while the specialty rental segment is focused on HVAC products.

In addition to its Kalispell headquarters, REIC serves its customers out of a strategic footprint of

33 locations stretching from the Pacific Northwest to the Upper East Coast.

For more information please visit: https://www.reicorporation.com/

About TCR

TCR is a specialty equipment rental company focused on the rental of heaters, air conditioners

coolers, fans and dehumidifiers. TC started operations 13 years ago and operates primarily over

a seven-state region, including Delaware, Pennsylvania, Virginia, New Jersey, Washington D.C.

New York and Maryland.


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