Columbia-based Equipment Share looking to go public

COLUMBIA, Mo. (KMIZ)

Columbia-based Equipment Share Inc. is looking to take its business to the stock market with an initial public stock offering.

The registration statement has been filed with the United States Securities and Exchange Commission, but is waiting for regulatory approval. Stocks and shares may not be sold until the company's request becomes effective.

Equipment Share is looking to list on the Nasdaq Global Select Market under the symbol EQPT.

"The idea of going from a privately owned company to going on to the stock market, typically what that looks like, is a business deciding that they're going to grow exponentially pretty quickly," Interim President and CEO for the Columbia Chamber of Commerce Lily White Boyd said.

Equipment Share's revenues are primarily through equipment rental and related services, sales of new or used rental equipment, sales of equipment parts, supplies and services, according to regulatory paperwork.

The share price has not been decided.

Equipment Share was founded in 2015 by Jabbok and William Schlacks. The Schlacks will represent a significant portion of the total voting power, making Equipment Share a "controlled company" under Nasdaq market standards, the company told the SEC.

Equipment Share had 342 full-service rental locations, 22 building materials locations and nine dealerships across 45 states as of Sept. 30. Through going public the company wants to nearly double their number of locations to 700.

"This is only the second company that is based here in Columbia to go through this process," White Boyd said.

American Outdoor Brands, based in Columbia, went through the IPO process in 2020. Boyd White said a third company in the Mid-Missouri area started its IPO process last year.

"Central Bank, they're actually headquartered down in Jeff City," Boyd White said. "So it's not considered a Columbia publicly traded company, but their first stocks were traded in November."

In 2024, the company generated approximately $3.8 billion in revenue, an increase from $1.7 billion in 2022.

In its request, Equipment Share noted risks that could come with investing in Class A common stock. The construction equipment rental industry carries significant risks due to high competition and reliance on supplier relationships.

Disruptions in supply chains could also negatively impact the company's ability to meet customer demand.

Seasonality can impact business operations, with lower levels of business typically experienced from December until late spring.

Equipment Share's aging rental equipment fleet poses a significant financial risk to the company, as increased maintenance and repair costs could affect its financial condition and operations, the filing states. As the company's rental equipment fleet ages, the costs associated with maintenance and repairs are expected to rise.

The average age of the fleet was approximately 30 months as of Sept. 30.