Rent-A-Container (RAC), a portfolio company of Kinderhook Industries, announced the acquisition of The Eagle Leasing Company, a provider of portable storage containers, ground level offices (GLOs), semi-trailers and mobile office solutions throughout the Northeast U.S.
Founded in 1967, Eagle Leasing has a deep history and long-standing reputation as a premier brand in the portable storage industry with deep roots across New England as well as parts of New York and New Jersey. Known for its outstanding service and family-operated legacy, Eagle is recognized for its high-quality equipment and dependable, customer-first operating philosophy.
The combination of Eagle and RAC creates one of the largest independent portable storage and ground level office leasing networks in the United States. With over 25,000 high quality units in its rental fleet and over 200 employees, the combined company will be particularly suited to deliver industry-leading service to its customers through its combined 18 branch locations serving the East Coast, South, and Midwest markets.
“We are proud of what Eagle Leasing has built over several generations and are thrilled to partner with Kinderhook and RAC to drive Eagle’s next chapter of growth,” said Louis Eagle. “This transaction expands the opportunity for our employees, for our customers, and for the Eagle brand.”
“Continuing the Eagle legacy was important to us,” added Jen Eagle. “We’re excited that the business will continue to operate under the Eagle name, and we are confident that RAC is the right partner to invest in our brand and people.”
“We are incredibly excited to execute this transformative acquisition,” said Dan McMurtrie, CEO of Rent-A-Container. “Eagle is one of the most trusted brands in the portable storage industry. This acquisition not only cements RAC’s market presence in the Eastern region, but also deepens our bench of leadership and operating talent.”
“Eagle’s quality asset base and entrenched market presence make this acquisition a tremendous opportunity for RAC. The Company is well positioned to service customers and strengthen market share as it looks to build further density across the East Coast,” said Rob Michalik, Managing Director at Kinderhook. “We believe Eagle’s team will be a great addition to the RAC team and culture, and we look forward to collaborating with them to drive the next phase of growth.”
Buyers were represented by Sidley Austin LLP and Greenberg Traurig LLP on legal matters and by Alvarez & Marsal for business diligence. Sellers were represented Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. on legal matters and Houlihan Lokey and Corporate Partners served as financial advisors. Comerica Bank, Huntington Bank and Key Bank led the various required credit facilities.
