EquipmentShare – an equipment and digital solutions provider serving the construction industry – announced the completion of a $290 million funding round led by funds affiliated with BDT Capital Partners. This funding round also included participation from existing investors such as RedBird Capital Partners, Tru Arrow Partners, and Sound Ventures, and new investors including Brown Advisors.
Since being founded in 2014, EquipmentShare has experienced rapid growth, spurred by the demand for its fleet management technology and equipment solutions. And in 2022 alone, EquipmentShare opened 32 new branch locations and acquired thousands of new customers. Today, the company’s total footprint comprises of over 150 locations, including additional rental, retail and service locations.
KEY QUOTES:
“Our growth continues to be fueled by new customers who are ready for a technology-driven construction solution. This latest round of funding brings in growth capital from both new and existing investors. We were pleased to have completed this raise in a challenging macro-economic environment at a valuation that was 40% higher than the previous raise in 2021.”
- Jabbok Schlacks, CEO and Co-Founder of EquipmentShare
“This successful and substantial equity raise is a testament to the strength of EquipmentShare and our robust growth profile, This capital will allow us to expand our US footprint, continue to invest in our T3 technology platform and further strengthen our balance sheet for future opportunities.”
- Trevor Schauenberg, CFO of EquipmentShare
“We’re thrilled to partner with Jabbok and Willy Schlacks and the entire EquipmentShare team to help build the connected jobsite of the future. Drawing on decades of construction experience, they have created a profitable, fast-growing, tech-enabled business with the potential to meaningfully disrupt the equipment rental market and the broader construction space. This investment is emblematic of BDT & MSD’s merchant banking model and reflects our commitment to supporting strong founders and family owners in this segment of the market as they pursue their long-term strategic objectives.”
- Henry Yeagley, Partner & Head of Middle Market at BDT & MSD Partners
