has been a part of the High Reach family since he
was 13 years old.
Summer break consisted of the young Renzulli doing a little bit of everything - washing parts, tending bins, tooling around in the parts department.
Now the owner and president of re-branded High Reach 2, Renzulli
, whose father purchased the company in 1978 and owned and operated it for 20 years following, has aided the company's growth, from re-entering the market in 2003 to currently operating four branches with 2,300 aerials and telehandlers.
"We've had a nice run for the past 11 years," Renzulli
In 1998, Renzulli's father sold to Nation's Rent and stepped back from the business.
was done and retired," Renzulli
With eight employees under his
belt - all former High Reachers - Renzulli
crew sliced and diced their way through the buying and leasing processes and before he
knew it, they were gutting a former High Reach location and opening a state-of-the-art new rental company aptly named High Reach 2.
"We downsized," Renzulli
"We had 2,250 units and we dipped down to 1,670 over the course of three years."
Even though buildings were vacant, people still had to maintain properties that were out there, and that's where High Reach 2's fleet came in handy - "We're a specialized company and booms, scissor and telehandlers are our only three products," he
By focusing on the company's strengths of aerials and telehandlers, Renzulli
team managed to stay alive through renovation, repair, phasing out certain types of equipment (push-arounds and tow-behinds) and the selling aerial equipment.
"We have a good reputation for selling to other rental companies," Renzulli
"If they're going to buy a machine, and they're going to buy a machine from somebody, it might as well be us."
During the harder times, HR2 might sell four machines and replace them with one, but now, the company can sell four machines and replace them with eight.
"That's where it's turned," Renzulli
"I don't think the big strong ramp up over the past 18 months will double-fold over the next 18 months, but I'm sensing some good, steady, consistent growth," Renzulli
"It will be a little slower rate than what we've seen over the past year, but I could be wrong."
Private money is fueling high-rise building, Renzulli
says, and people are spending money.
"The banks are lending, interest rates are low, people are borrowing," he
"We're seeing residential construction and new construction."
Cruise terminals, theme parks, airport expansions - Orlando being the tourism icon that it is - there's a lot of people spending a lot of money to bring visitors to Florida.
Also, even though NASA
closing might be seen as a loss of jobs in the area, Renzulli
says the private company that now owns property on the "Space Coast" provides HR2 with a good chunk of work.
"We're doing just as much business out there - if not more - than we ever have."
For the next year, HR2 will invest in "probably $15-20 million" CapEx for its fleet.
The company plans to be a little less aggressive, and believes the market will request what it needs.
"We brought in a lot of new equipment last year because we had such demand for used equipment [during the slower years]," Renzulli
"Some of the smaller companies that did make it out of the recession but aren't investing in aerials because of the expense are also re-renting from us.
We have other companies that buy machines and parts from us."
Big boom plans?
Despite being a specialist in aerials and telehandlers, and re-renting some equipment, Renzulli has yet to pull the trigger on the big boom trend.
"We don't have one yet," he
says of the 180-foot and 185-foot options on the market from Terex Aerial Work Platforms and JLG Industries, respectfully.
"Not so much since we are located only in Florida and not a national company," Renzulli
The smaller companies that were independents that were really trying to be aggressive prior to the recession might have bit off more than they could chew, Renzulli
A few went out of business, some are shell-shocked.
says despite these downfalls for competitors, it has allowed HR2 to regrow its fleet again and organically get back to "normal" just like the company did at the beginning of 2003.
"Back then you had a handful of big companies: Sunbelts and Nations and Uniteds and RSCs," he
Part of the excitement and joy speaking with Renzulli
passion for his
"We have 145 employees," he
says, "and almost half are from the first company.
We came back to the market and they knew what to expect of me, I knew what to expect of them."
has management in every store from the previous and original High Reach company.
"It was a challenge to take five years off, but we got right back in without skipping a beat."
HR2 also recently inked a deal to purchase Genisys Software
- a longtime provider.
"We've talked with them two to three times a week over the last 10 years," Renzulli
says of the relationship.
"They went through bankruptcy last February, so we called up the owner and ended up purchasing Genisys in April.
It's a really good software company, we're proud to own and we're looking to grow it."
With these niche opportunities, Renzulli
's keen sense of business and a "good and steady" market, Renzulli trusts his
strengths - and weaknesses - and plans to utilize those for some time to come.