REIC nets financing from lender syndicate for LBO by Kinderhook

Kinderhook Industries LLC has acquired Rental Equipment Investment Corp., or REIC, the companies said.

A PNC Capital Markets-led bank syndicate provided debt financing for the transaction. Other lender participants were Flagstar Bank, Axos Bank, BancAlliance, Bank Hapoalim and First Merchants Bank, according to a Jan. 6 statement.

Proceeds from the investment will allow the company to pursue add-on acquisitions and open new sites.

REIC rents aerial, earthmoving, power, compression and HVAC equipment. The transaction was done in conjunction with company founder and CEO Kevin Fitzgerald. REIC, based in Kalispell, Mont., was founded in 2014.