Utility One Source Announces Acquisition of Equipment Repair Solutions (ERS)
Tampa, Florida, June 2, 2017 (Newswire.com) - Utility One Source ("UOS") today announced the acquisition of Equipment Repair Solutions ("ERS"), a provider of upfitting services to the building supply market. Based in Tampa, Florida, ERS's existing management will continue to provide the Southeast region with exceptional upfitting services while growing the business as part of Utility One Source. Utility One Source, founded by private equity funds managed by Blackstone in 2015, is a single-source supplier for the utility and heavy equipment industries with a focus on sales, rental, parts and service, remanufacturing, and equipment customization.
"I am very pleased to welcome Equipment Repair Solutions to the Utility One Source family," said UOS CEO Fred Ross. "We are excited to add ERS's upfitting and service expertise in the building supply market to our Southeast market. This addition demonstrates our commitment to the expansion of our footprint, and to better serving the heavy equipment and utility industries."
"Joining the UOS family is exciting and we are looking forward to having the nationwide strength to better service our customers' needs, both national and local, while also expanding our services to the utility, gas, and construction markets in Florida," said ERS's Anthony Stanonis. "UOS is truly a 'One Stop Shop' for all truck and equipment needs. We are honored and very excited to be a part of this organization."
ERS's John Thornton states, "We are excited to be part of the UOS family, to expand our product and services to existing customers and reach a broader market of new customers in the Southeast. UOS has proven to be the leader in this industry, and we are proud to be a part of its nationwide growth."
The addition of Equipment Repair Solutions marks the eighth acquisition under the Utility One Source brand since its formation in February 2015, and is validation of its pledge to build a national footprint and a wide breadth of product offerings. Funds managed by Blackstone will continue to provide growth capital for significant additional investment in equipment, innovation and an expanded geographic footprint, which will ensure Utility One Source has the customer-focused solutions the industry requires.
About Equipment Repair Solutions
Founded in 2010, Equipment Repair Solutions, Inc (ERS) provides sales and services to the building supply industry in Florida. In 2014, John Thornton and Anthony Stanonis partnered to bring their combined industry knowledge to ERS. With offices in Tampa, Florida and Marshfield, Wisconsin, ERS currently provides quality upfitting services to building material suppliers throughout the United States.
About Utility One Source
Utility One Source (UOS) is comprised of eight industry-leading equipment providers; seven family-operated businesses (Custom Truck & Equipment, Utility Fleet Sales, Forestry Equipment of Virginia, UCO Equipment, TNT Equipment, North American Equipment Upfitters and now Equipment Repair Solutions), and Load King, the known manufacturer of highly proficient and customizable trailers. Since its inception in February of 2015, Utility One Source continues to deliver on its commitment to build a national footprint and better serve our customers. UOS is committed to increasing access to equipment and delivering world-class service to our customers, in all of the industries we serve.
Source: Utility One Source