Kingsbridge Holdings Buys Western States Equipment

Kingsbridge Holdings Buys Western States Equipment

Kingsbridge Holdings, Lake Forest, Ill., has bought Western States Equipment, Salt Lake City, Utah.

Western States Equipment is a general rental company owned by the Costanzo family. It operates a substantial fleet of aerial work platforms and telehandlers.

Established in 1997, Western States Equipment serves Utah, Idaho, Nevada, and Wyoming.

Kingsbridge has historically focused on providing independent financing solutions for equipment acquisition. The Western States Equipment acquisition is reportedly its first foray into equipment rental.

Kingsbridge chief executive Dan Flagstad said his company had researched the [rental] industry, looked at many opportunities, and knew this one was the right fit and the perfect entry point. “Western States Equipment is a great rental company with strong management, has the mix of equipment that we desired, with a heavy emphasis on aerial equipment, has excellent facilities and is in a good market for us to enter into the traditional equipment rental space,” said Flagstad.

Western States chief executive David Costanzo added: “We are thrilled to have sold our business to the folks at Kingsbridge. We had multiple qualified potential buyers and it was an easy decision once we met the principals of Kingsbridge, including John Morand and Dan Flagstad. Our employees and customers alike are in very good hands and it will be exciting to see them take the company to the next level. I’d also like to thank Fred Hageman for his handling of the entire process and making this deal possible.”

The Company will continue to be operated as Western States Equipment Holdings, LLC and Mark Christison will continue with the company as general manager.

Western States’ headquarters, built in 2015, has a 17,000-square-foot building. The facility sits on five acres of land, with drive-around and drive-through capability.

Fred Hageman of Rental Acquisitions, LLC represented Western States Equipment Co. in the transaction. Terms of the transaction were not disclosed.


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