Capstone Partners served as exclusive financial advisor to Lift Works, Inc. in its sale to Sunbelt Rentals, Inc., a subsidiary of Ashtead Group plc (LSE:AHT).
Founded in 2003 and headquartered in St. Charles, Illinois, Lift Works is a leading, independent aerial lift-focused equipment rental service provider offering best-in-class solutions to small and mid-sized contractors in the greater Chicagoland market and throughout the Midwest.
This acquisition increases Sunbelt’s density in the Chicagoland market, expanding its roster of small to mid-sized contractors while preserving the industry-leading customer service and company culture that Lift Works has cultivated over the course of its 19-year history.
Sunbelt Rentals ranks 2nd on Rental Equipment Register’s list of the world’s largest equipment rental companies (RER 100) and constitutes the U.S. operations of Ashtead Group plc, a U.K.-based, publicly traded international equipment rental company with a market capitalization of over $25 billion.
Capstone Partners is a market leader in the aerial lift and broader equipment rental and dealer sectors, having completed multiple recent transactions involving both financial and strategic buyers / partners while publishing authoritative industry research.
I had the opportunity to evaluate several experienced advisors interested to help me, and ultimately [Capstone Partners] distinguished themselves. While they have strong rental industry transaction experience, they have done multiple aerial equipment rental-focused deals and their ability to tell our story in a more compelling fashion was clear. I appreciated that they rolled up their sleeves and helped us create strong materials to tell a strong story; and they clearly knew the buyers – allowing us to take a more targeted approach. My team and I spent 19 years building this company, and I believe Lift Works’ market position, financial profile, customer base, people and culture deserved a premium valuation in the market. I was very happy with the outcome.
