Exclusive financial advisor to American Rentals LLC
KPMG Corporate Finance LLC acted as exclusive financial advisor to American Rentals LLC d/b/a The Duke Company
KPMG Corporate Finance, LLC is pleased to announce the sale of American Rentals LLC d/b/a The Duke Company (“Duke” or the “Company”) to Milton Rents, Inc. (“Milton”).
Headquartered in Rochester, NY, Duke is a diversified, rental and sales company servicing construction and industrial customers. The Company carries a full line of rental equipment and job site solutions along with a comprehensive suite of complementary building, industrial, and safety products. In addition, the Company has an exclusive relationship to sell bulk rock salt for ice and snow management to select customers in its footprint along with a variety of bagged rock salt products Duke offers. Duke operates out of four branches, with a geographic reach that extends from Western New York through Central New York and Northern Pennsylvania.
Duke was founded by David Terry on a legacy of character, generosity, integrity and entrepreneurial spirit. The Company takes pride in giving back to its local communities and doing right by the customer.
“Since its start in 2003, The Duke Company has prioritized building relationships with customers to provide complete solutions for their unique needs. That commitment to customers will remain under the new name as Milton Rents shares this mindset. Through the acquisition we hope to enable and enhance Duke employees’ passion for helping their customers succeed. In addition to the shared dedication to customers, The Duke Company’s track record of investing in new products and services to support Upstate New York contractors aligns with the Milton Rents vision. We believe this acquisition strengthens both organizations and are looking forward to a stronger future as a result,” said Milton CAT CEO, Chris Milton.
Duke President, David Terry, and Vice President, Kevin Holahan, said, “We have known the KPMG Corporate Finance team for several years and when it became time to think about transition opportunities, the team efficiently helped us prepare for the process and guided us throughout. The KPMG Corporate Finance team was knowledgeable and always responsive to our questions along the way. The end result is a great partner who will continue the culture of taking care of our employees and providing excellent service to our customers.”
Milton Rents, Inc.
Milton Rents, Inc.; an affiliate of Milton CAT, is a New England-based rental services company operating out of nine locations offering a comprehensive inventory of equipment and products to its customers. Milton offers a variety of Caterpillar equipment along with smaller construction equipment, including jackhammers, skid steer tractors, generators, lifting, and more.
KPMG Corporate Finance, LLC
The global Corporate Finance practice of KPMG International’s network of independent member firms was ranked #1 as the top M&A middle-market adviser globally by Refinitiv, based on number of completed transactions, for the past 20 years.
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