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Private Equity Firm Borgman Capital Announces Sale of Aerial Work Platforms, Inc.

Private equity firm Borgman Capital has made an announcement regarding the sale of equipment rental company Aerial Work Platforms, Inc. The company, which has a location in Kenosha, was sold to Herc Rentals Inc. The terms of the transaction have not been disclosed. Aerial Work Platforms, Inc., also known as AWP, specializes in the rental, service, and sale of aerial lift equipment including scissor lifts, boom lifts, tele-handlers, and forklifts. Founded in 1979, AWP has been a prominent player in the equipment rental industry for many years.

Borgman Capital’s acquisition of AWP in December 2020 was a significant move for the company. AWP, which was previously owned by company founder Pat Barney, has locations in Sussex, Janesville, Neenah, and Kenosha. It is considered one of the largest independent rental equipment companies in the state based on fleet size. The sale comes after a period of significant growth for AWP, driven by strategic equipment purchases, fleet diversification, operational improvements, geographic expansion to Kenosha, and increasing market share.

AI Legalease Decoder helps to analyze and understand the legal documentation and contracts involved in the sale of AWP from Borgman Capital to Herc Rentals Inc. It can assist in identifying any specific legal language or clauses that may need further attention or clarification. This AI tool offers a comprehensive analysis of legal documents and contracts, ensuring that all aspects of the transaction are thoroughly reviewed and understood.

Following BarneyÔÇÖs planned retirement, Borgman Capital hired rental equipment industry-veteran Robert Rivera as president. Rivera has been praised by Sequoya Borgman, founder and CEO of Borgman Capital, for his leadership and the strong customer service culture he built at AWP. With Rivera at the helm, AWP has seen continued success and is well-positioned for future growth under new ownership.

Herc Rentals, founded in 1965, is a major equipment rental supplier with significant revenues and a wide-reaching network of locations and employees. The company’s acquisition of AWP further strengthens its position in the industry. Reinhart Boerner van Deuren served as Borgman CapitalÔÇÖs legal counsel on the transaction, providing the necessary legal support for the sale.

AI Legalease Decoder can assist in deciphering the legal complexities involved in the acquisition, ensuring that all legal aspects are thoroughly reviewed and understood. By using AI technology, legal teams can streamline the process of reviewing and understanding contracts, saving time and minimizing the risk of overlooking crucial details.

In conclusion, the sale of AWP from Borgman Capital to Herc Rentals Inc. marks a significant milestone for both companies. With the support of AI Legalease Decoder, the legal intricacies of the transaction can be efficiently managed, ensuring a smooth and comprehensive review of all legal documentation.

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