ABLE acquires Elite Construction Rentals
By Lindsey Anderson28 June 2022
ABLE Equipment Rental has purchased the equipment rental assets and service operations of Elite Construction Rentals, LLC (ECR), located in Wallingford, CT. The transaction will allow ABLE to broaden its footprint further into southern New England while increasing the size of its fleet and customer base. ABLE will retain the entire Elite Construction Rental Team and continue to develop its relationship with Elite’s site services and general trade business, which will continue to operate under the name Elite Construction Resources, LLC.
“Elite and its affiliates have dependably served the needs of contractors, sub-contractors and building concerns throughout our mutual footprint for many years,” said Steve Laganas, ABLE’s CEO. “The company offered a wide range of rental products while providing site and general trade services to a loyal customer base.
We are extremely excited that the Elite Construction Rental Team has joined the ABLE Equipment Rental team.
“Strategically, this partnership with Elite will allow us to continue to serve as a dependable provider of aerial equipment and service to Elite’s current customer base,” addedChris Pera, ABLE’s COO. “Additionally, we’ll be able to offer a broader product range for both rent and sale, further fulfilling Elite’s customer equipment needs.”
The news comes following ABLE’s recent announcement that it received an increase to its existing Asset Based Loan with M&T Bank as Lead Arranger and Administrative Agent. The transaction provided ABLE with a $35 million accordion feature for future growth.