21.06.2018

New England acquisition for Sunbelt

Ashtead’s US business Sunbelt Rentals has acquired New England powered access and telehandler rental company Above and Beyond.

Sunbelt paid $21 million, in cash for the business, with an additional $500,000 payable over the next 12 months, depending on revenue meeting or exceeding specific thresholds.

Above and Beyond is based in Madison, Connecticut, with branches in Durham and Stratford, Connecticut, covering the greater New Haven region and South Deerfield, Massachusetts – due north of Springfield.

The company is privately owned and was founded by chief executive Joseph Hill in 2009 and runs a fleet of boom, scissor lifts and telehandlers largely JLG, Sky Trak and fork trucks. The company also runs Skyjack, Genie and Snorkel platforms. The deal was supported by Craft Partners of California, that has worked with Above and Beyond for some time and has also helped with a number of other sales to Sunbelt Rentals.

Hill said: “I developed a relationship with Craft Partners over a number of years, well before I was ready to sell. They provided honest, thoughtful advice along the way and were always mindful of my long term goals and objectives. When the time did come to sell they were the obvious and logical choice for me. Craft ran a professional process from start to finish and we ultimately closed with a strong, strategic buyer.”
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An Above and Beyond branch