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.
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. 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.
