EquipmentShare completes €264 million funding round
By Lewis Tyler20 April 2023
US-based rental company EquipmentShare has completed a $290 million (€264 million) funding round that it says will enable it to grow its coverage and continue to invest in its digital solutions.
The round was led by funds affiliated with BDT Capital Partners and included participation from existing investors and several new investors, including Brown Advisors. It is the latest to be carried out by the company, which also held a funding round in 2021 to support the launch of its T3 management system.
According to Trevor Schauenberg, CFO of EquipmentShare, said the company will use the funding to “expand our US footprint, continue to invest in our T3 technology platform and further strengthen our balance sheet for future opportunities.”
Jabbok Schlacks, CEO and co-founder of EquipmentShare said, “Our growth continues to be fuelled by new customers who are ready for a technology-driven construction solution.”
“This latest round of funding brings in growth capital from both new and existing investors. We were pleased to have completed this raise in a challenging macro-economic environment at a valuation that was 40% higher than the previous raise in 2021.”
Henry Yeagley, partner & head of Middle Market at BDT & MSD Partners, said, “We’re thrilled to partner with Jabbok and Willy Schlacks and the entire EquipmentShare team to help build the connected jobsite of the future.”
“Drawing on decades of construction experience, they have created a profitable, fast-growing, tech-enabled business with the potential to meaningfully disrupt the equipment rental market and the broader construction space.
“This investment is emblematic of BDT & MSD’s merchant banking model and reflects our commitment to supporting strong founders and family owners in this segment of the market as they pursue their long-term strategic objectives.”