Hugg & Hall Equipment Co. of Little Rock has announced the acquisition of RPM Services & Rentals LLC of Houma, Louisiana, one of the largest independent equipment rental companies in the Southeast.
RPM was founded in 2008 by its owner, Terry Gold, and has about 30 employees, with locations in Broussard and Baton Rouge.
Financial terms of the deal were not disclosed.
In a news release, Hugg & Hall said most of RPM’s revenue comes from the region’s onshore commercial and construction markets; other revenue is directly related to the offshore oil and gas industry, including the rental of skid-mounted air compressors and tools for painting, blasting, coating and maintenance.
Hugg & Hall said the deal will increase its Louisiana footprint to 12 stores and extend its ability to capitalize on industry and regional trends.
“The acquisition of RPM fully supports our strategic objectives in South Louisiana, where we see significant growth and demand for equipment rental solutions,” said Rick Vollmer, vice president of rental at Hugg & Hall, in a news release. “Under Terry Gold’s direction, RPM has become a highly valued and reliable partner to industrial and construction companies. We are excited to build upon Terry’s success and to further the good work of RPM’s fantastic team of rental professionals.”
Hugg & Hall Equipment Co. is an industrial and construction equipment provider in with 12 locations in Arkansas, Louisiana, Oklahoma, Texas and Missouri. It ranked No. 49 on Arkansas Business’ most recent list of the state’s largest private companies, with 2015 revenue of $183 million and 500 employees.
“We are thrilled to join the Hugg & Hall team. This transaction presents fantastic synergies for both companies. Hugg & Hall will bring tremendous resources to our employees and loyal customers and together we will execute a smart growth strategy for South Louisiana,” Gold said.
Stephens Inc. of Little Rock advised Hugg and Hall in the transaction; Craft Partners LLC of Sherman Oaks, California, advised RPM.