May 28, 2024

Kalispell, MT – Rental Equipment Investment Corp. (“REIC”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced today the acquisition of IPR of CO, LLC d/b/a Indian Peaks Rental, LLC (“Indian Peaks” or the “Company”). Headquartered in Tabernash, CO, Indian Peaks is a full-service general rental business providing a variety of equipment to the Grand County market. Indian Peaks represents REIC’s eighth add-on acquisition under Kinderhook’s ownership and its 20th since inception. Financial terms of the transaction were not disclosed.

Mr. Greg Gallagher, Chief Executive Officer of REIC, commented, “The acquisition of Indian Peaks strengthens REIC’s regional presence in the Mountain West, enhancing our ability to respond quickly to customer needs and further supporting our customer-first value proposition.”

Joe Penn, owner of Indian Peaks, also commented, “We are pleased to announce the sale of the Company to REIC. The combined resources and footprint of the businesses position Indian Peaks to capitalize on growth in the region while continuing our combined goal of providing top notch service for our customers.”

“Indian Peaks is positioned strategically to benefit from the growth and capital investments in the Winter Park ski area” said Paul Cifelli, Managing Director at Kinderhook. “The REIC team has an exceptional track record of efficiently and seamlessly integrating prior acquisitions, garnering a reputation as the acquirer of choice in the continued consolidation of the equipment rental industry.”

Mr. Kevin Fitzgerald, Executive Chairman of REIC, commented, “We are excited to add Indian Peaks to our general equipment rental network. The Company’s entrenched local presence combined with proximity to other REIC locations will create tailwinds to support future growth.”

Caldera Law served as legal counsel to REIC. Financing for the transaction was provided by a syndicate led by PNC Bank, National Association with participation from Flagstar Bank, N.A., Axos Bank, BancAlliance Inc., Bank Hapoalim B.M., First Merchants Bank, U.S. Bank National Association, Stifel Bank, MUFG Bank, Ltd., Capital One, National Association.

For additional information about this transaction, please contact: 
Paul Cifelli
Managing Director
(212) 201-6797
[email protected]
 
Nate Druckenmiller
Principal
(212) 201-6791
[email protected]