EquipmentShare, a technology-driven construction equipment rental company, has recently launched its first bond offering. The news was reported by Construction Dive, a leading publication in the construction industry.
The bond offering is worth $230 million and is backed by EquipmentShare’s rental fleet. The company plans to use the proceeds to expand its rental fleet and invest in technology to improve its operations.
EquipmentShare was founded in 2014 by brothers Willy and Jabbok Schlacks. The company’s mission is to make construction equipment rental more efficient and cost-effective for contractors. It does this by using technology to connect contractors with available equipment and by offering flexible rental options.
The company has grown rapidly in recent years, with a presence in over 20 states and more than 1,000 rental partners. It has also raised over $400 million in funding from investors such as Insight Partners and Tiger Global Management.
The bond offering is a significant milestone for EquipmentShare, as it allows the company to access capital at a lower cost than traditional bank loans. It also demonstrates the confidence that investors have in the company’s business model and growth potential.
In a statement, EquipmentShare CEO Willy Schlacks said, “This bond offering is a testament to the strength of our business and the value we provide to our customers. We are excited to use the proceeds to continue expanding our rental fleet and investing in technology that will make construction equipment rental even more efficient.”
The construction industry has traditionally been slow to adopt new technologies, but EquipmentShare is leading the way in changing that. By using technology to streamline the rental process, the company is making it easier and more cost-effective for contractors to access the equipment they need to complete their projects.
Overall, EquipmentShare’s bond offering is a positive development for the company and the construction industry as a whole. It shows that there is significant investor interest in companies that are using technology to disrupt traditional industries and improve efficiency. As EquipmentShare continues to grow and expand, it will be interesting to see how it continues to innovate and transform the construction equipment rental market.
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