EquipmentShare, an equipment and digital solutions provider serving the construction industry, announces the completion of a $290 million funding round led by funds affiliated with BDT Capital Partners. This round also included participation from existing investors such as RedBird Capital Partners, Tru Arrow Partners, and Sound Ventures, as well as several new investors including Brown Advisors.
“Our growth continues to be fueled by new customers who are ready for a technology-driven construction solution,” said Jabbok Schlacks, CEO and Co-Founder of EquipmentShare. “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.”
“This successful and substantial equity raise is a testament to the strength of EquipmentShare and our robust growth profile,” said Trevor Schauenberg, CFO of EquipmentShare. “This capital will allow us to expand our US footprint, continue to invest in our T3 technology platform and further strengthen our balance sheet for future opportunities.”
“We’re thrilled to partner with Jabbok and Willy Schlacks and the entire EquipmentShare team to help build the connected jobsite of the future,” said Henry Yeagley, Partner & Head of Middle Market at BDT & MSD Partners. “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.”
Since its founding in 2014, EquipmentShare has experienced rapid growth, spurred by the demand for its fleet management technology and equipment solutions. In 2022 alone, EquipmentShare opened 32 new branch locations and acquired thousands of new customers. Today, its total footprint comprises more than 150 locations, including additional rental, retail and service locations.
Headquartered in Columbia, Mo., EquipmentShare is a nationwide construction solutions provider dedicated to solving industry pain points through smart jobsite technology and equipment rental, retail and service centers. EquipmentShare’s cloud-connected platform, T3, is powered by telematics and machine hardware to give construction and industrial companies a real-time view into their jobsite and operations. EquipmentShare’s enterprise suite of apps is OEM-agnostic and can track and manage any piece of equipment, regardless of brand, to help fleet managers monitor assets, prevent theft and machine misuse, track employee hours and shifts, increase machine utilization, streamline maintenance and prevent unplanned downtime. Our business was founded in 2014 and we employ more than 4,100 team members of diverse perspectives that push the boundaries of possibilities to create unparalleled customer value, support their communities and empower construction professionals to work more efficiently. EquipmentShare’s growing presence of locations, which includes equipment and service yards, research and development sites, dealerships for major brands, administrative offices and specialty solutions locations, serve the rising demand for the company’s equipment and digital solutions. To learn more, visit equipmentshare.com.
About BDT Capital Partners
BDT Capital Partners provides family- and founder-led businesses with long-term, differentiated capital through its investment funds. It is an affiliate of BDT & MSD Partners, a merchant bank with an advisory and investment platform built to serve the distinct needs of business owners and strategic, long-term investors. Since 2010, BDT & MSD Partners’ affiliated funds have deployed more than $50 billion across their investment strategies. For more information, visit www.bdtmsd.com.