Clairvest to sell CRS to Ashtead's Sunbelt Rentals for $275 mln
Canadian private equity firm Clairvest Group has agreed to sell CRS Contractors Rental Supply LP, a provider of construction equipment rental and related merchandise, for $275 million plus a potential earn-out. The buyer is Sunbelt Rentals, a North American business affiliated with Ashtead Group plc, a U.K. industrial equipment rental provider. Clairvest, which invested in Kitchener, Ontario-based CRS in 2013, said its proceeds from the sale are expected to be about $31.7 million, compared to a recent carrying value of $28.8 million. The deal is expected to close in the weeks ahead. Founded in 2000, CRS is led by President and CEO Brad Muter.
19 July 2017•2 mins read
