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Home Depot acquires Rental partner

10. July 2017 | Comments (0)

US DIY chain Home Depot agreed the acquisition of rental partner Compact Power Equipment for $265 million in cash.

Compact Power Equipment offers a wide range of equipment including trailer lifts, scissor lifts and ultra compact telehandlers. It has been working with Home Depot since 2008 when it opened three pilot rental centres at Home Base stores in Charlotte, North Carolina. It now has centres in 1,000 of the company’s 2,281 retail stores across the U.S. and Canada. It also maintains the equipment that Home Depot owns itself.

Compact Power Equipment logo

Home Depot chief executive Craig Menear said:"We've worked closely with the talented team at Compact Power Equipment for many years and are delighted to welcome them to The Home Depot family. The acquisition allows us to further improve the customer experience – in particular for Pros – through enhanced equipment and tool rental offerings. It also allows us to grow Compact Power's best-in-class building services capabilities."

Roger Braswell chief executive of Compact Power added: "With a collective focus on convenience and execution, together our companies will be even stronger to serve customers while remaining on the cutting edge of life-cycle management for commercial equipment.”

Compact Equipment was founded by Braswell who established Power House Equipment as a Toro dealer in 2000, quickly expanding into other equipment and then merging it into Compact Power Equipment in 2003. Prior to this He had founded and built up Southern Tree and Landscape in the Carolinas, which went on to become a founding company partner of LandCare USA which merged with ServiceMaster in 1999.

A Compact Power Equipment store
A Compact Power Equipment store
niftylift

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