Los Angeles — FocalPoint Partners has named Ira Mendelsohn as Equipment Rental Operating Partner in its Los Angeles office.
“Ira has been a leading force in equipment rental for more than thirty years both in the U.S. and the U.K. In addition to being a significant shareholder, he served as CEO of both U.S. Rentals and Acme Rents (predecessor company to RSC Equipment Rental). Ira understands the ins and outs of the business from the ground up. This operational expertise, combined with his transactional experience, will add significant value to our equipment rental clients,” said FocalPoint Managing Director, Dan Conway.
Recent sector activity indicates that the equipment rental industry is poised for another round of consolidation. Sunbelt Rentals announced the acquisitions of Lewis Brothers Tool Rental and Northridge Equipment Company. Hertz was sold by Ford to a consortium of private equity firms who are contemplating spinning off the Hertz Equipment Rental Company (HERC). H&E Equipment Services filed to raise up to $201 million in an initial public offering.
The affiliation with Mr. Mendelsohn represents a major step in FocalPoint’s effort to build on its recent activities in the equipment rental sector. “After a few difficult years in the industry, I am seeing a renewed energy in the sector along with new strategic thinking,” commented Mr. Mendelsohn. “I am excited about my association with the FocalPoint team. I believe that we are in for another wave of consolidation in the industry with clear winners and losers. With our expertise in both M&A and raising capital, we aim to be at the forefront of the activity”.
FocalPoint Partners LLC is an independent investment bank, specializing in mergers and acquisitions, raising capital (both debt and equity) and financial restructurings. The firm‘s primary focus is on middle-market companies headquartered in the United States, operating with revenues between $5 million and $250 million in a diverse range of industries. FocalPoint is managed by seasoned veterans with backgrounds in law, public accounting, commercial banking, private equity and investment banking at leading national and international firms such as Merrill Lynch, Houlihan Lokey Howard & Zukin, GE Capital, Fleet Capital and PricewaterhouseCoopers.
FocalPoint Parters LLC