What is Midway Rental?
Midway Rental operates as a provider of construction and industrial equipment for rent, alongside offering used equipment for sale. The company is a subsidiary of Rental Equipment Investment Corp (REIC), a holding company formed in 1978 by veteran rental executive Kevin Fitzgerald and other investors. REIC's strategy involves acquiring and investing in well-managed, small to mid-sized rental equipment businesses, as well as establishing new rental locations. Midway Rental's history includes acquisitions such as Reliable Equipment Rental in Wheatland, Wyoming, and Hillside Rental in Evans, Colorado, alongside the expansion of its own operations with a new store in Bozeman, Montana, and acquisitions in Oregon, Idaho, and Montana.
How much funding has Midway Rental raised?
Midway Rental has raised a total of $2M across 1 funding round:
Debt
$2M
Debt (2020): $2M with participation from PPP
Key Investors in Midway Rental
PPP
Public-Private Partnership
What's next for Midway Rental?
The recent major strategic investment signifies a pivotal moment for Midway Rental, likely enabling further expansion of its fleet, technological integration, and market penetration. This capital infusion is expected to bolster its competitive position against other major players in the construction and industrial equipment rental market, potentially leading to new service offerings or geographic growth. The company's established operational model under REIC provides a solid foundation for leveraging this new financing to drive sustained growth and operational efficiency.
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