BlueLine Rentals Makes Another Aquisition
BlueLine Rental acquired Area Equipment LLC, a rental company in Cheasapeake, VA that serves customers in the industrial and non-residential construction markets. Terms of the transaction were not disclosed.
"Area Rental is a good strategic fit for BlueLine that will bolster our fleet and create an even stronger platform for us in the Mid-Atlantic region," said BlueLine CEO Phil Hobson. "Area has a well-deserved reputation for reliability and customer service, which is a credit to the founders of the business and all the people who have made Area such a success."
Hobson said Sean Jennings and JT Sutton, who founded Area in 2006, are expected to stay on with BlueLine in regional management roles.
BlueLine is owned by Platinum Equity, which acquired the business in January 2014. The Area acquisition marks the third add-on investment BlueLine has made under Platinum Equity’s ownership. In September 2014 BlueLine acquired JustRuss Rental Inc., with three locations in Alabama; in February 2015, BlueLine acquired Trico Equipment, Inc., a rental company specialized in aerial lift equipment with locations in New Jersey, Pennsylvania, Maryland and Texas.
Here's the Platinum Equity news release.
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