Boston, MA - Capstone Partners LLC, a national investment banking firm, announced that it has successfully advised Rentacrate Incorporated on its recent majority recapitalization by a group of private investors lead by Howard Brown, former CEO of Allied Office Products. Rentacrate founders, Michael Shanley and Karen Osborn Shanley, are also re-investing a portion of their equity in the company. Capstone initiated the transaction and served as the exclusive investment banking advisor to the shareholders of Rentacrate. The terms of this transaction were not disclosed.
Founded in 1991, Rentacrate is the largest U.S. provider of plastic crates, rental equipment and logistics solutions for the relocation of commercial and residential property. This leadership position is enabled through a proprietary, engineered plastic crate system that is supported by a network of moving affiliates and world-class, in-house customer service. As a more effective alternative to using traditional cardboard boxes in large-scale commercial relocation projects, Rentacrate has developed a crate moving system, which delivers significant benefits and cost savings, including faster moves, improved safety and security, property protection, reduced labor costs, more efficient truckload utilization and environmental friendliness. In addition, the Company provides value-added services such as document shredding and electronic equipment recycling.
Headquartered in Waltham, MA with over 175,000 square feet of office and warehouse space, the Company operates on a national basis in 13 key market locations across the U.S. with a fleet of 29 trucks and more than 300,000 crates and related products.
Karen Osborn Shanley, the chief operating officer at Rentacrate, commented, “We are highly excited about the implications that this transaction will have on the future of our business. We all expect that the industry expertise and management depth that comes with this partnership will accelerate the vision and growth strategy we have developed for Rentacrate. Our customers and employees will ultimately be the beneficiaries of a vibrant, high growth company that can deliver a full suite of moving logistics solutions.” Capstone’s Managing Partner, John Ferrara, added, “We have been advising Rentacrate for some time, having been introduced to the Shanleys early in their company’s growth trajectory. It has been powerful to watch their progress and we were proud to ultimately represent them in this transaction.”
Rentacrate Incorporated, headquartered in Waltham, Massachusetts, is the largest U.S. provider of plastic crates, rental equipment and logistics solutions for the relocation of commercial and residential property. The Company operates on a national basis in 13 key market locations across the U.S. with a fleet of 29 trucks and more than 300,000 crates and related products.