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G. Cooper Equipment Rentals Limited (Cooper) was founded in 1972 and is a full-service construction equipment rental company that services contractors across Ontario and Quebec. The company specializes in the rental of compact, aerial, and heavy construction equipment. Its fleet consists largely of skid-steer loaders, boom lifts, scissor lifts, forklifts, excavators, air compressors, and general rental equipment. Cooper generates the majority of its revenue from equipment rentals. The company generates additional revenue from the sale of used equipment, ancillary sales, merchandise, and parts.
In 2015, Cooper began searching for a lender to help it acquire SMS Rents, a complementary construction rental equipment provider servicing the Greater Toronto Area, Northern Ontario, Eastern Ontario, and Quebec. Cooper selected Wells Fargo Capital Finance to lead an $80 million Canadian dollar senior secured credit facility, which helped finance the acquisition. The credit facility also supports
Cooper’s ongoing working capital requirements, with a financial covenant package that provides significant operational flexibility as the company looks to the future.
We have been very pleased with the common sense, get-it-done approach of Wells Fargo in its support of a transformational acquisition for our company. Their team members have shown a deep interest in getting to know our business, and their execution — post-underwriting to day-to-day account management — was basically seamless. We look forward to growing our relationship with them and would not hesitate to recommend Wells Fargo as a financing partner to others.— Jim McInnis, Chief Financial Officer, G. Cooper Equipment Rentals Limited