EFI acquisition to boost Opifex-Synergy’s specialty rental business
‘Strong capital structure’ crucial to increasing same-store sales
Equipment rental company Opifex-Synergy is ready to make another splash in the Sunbelt region following its recent acquisition of Nashville, Tenn., rental house Equipment Finders Inc.
The acquisition, announced Sept. 16, made Austin, Texas-based Opifex-Synergy the seventh-largest general rental company in the United States, according to the Rental Equipment Register 100, which measures the total volume of the 100 largest equipment rental companies in North America.
With more than 34 locations across Texas, Florida, Alabama, Georgia and Tennessee, Opifex-Synergy aims to combine “national strength with hometown service” as part of its integration strategy, Chief Executive Jay Vaughn III told Equipment Finance News.
EFI founder “Scott Hatcher and his team have earned their reputation in Nashville because they’ve been a trusted partner to contractors for almost three decades,” Vaughn said. “Our job isn’t to change that, but to give them more resources, more fleet and more opportunities to say ‘yes’ to customers while making sure that the relationships that made EFI successful stay local.”
Hatcher will join Opifex-Synergy’s leadership team as vice president of corporate development and as a member of the management advisory committee, according to a Sept. 16 release.
The company’s growth strategy includes increasing same-store sales, and “a strong capital structure is key” to achieving this, Vaughn said.
“This growth is powered by the growth of our rental fleet, which is supported by a strong balance sheet.”
— Jay Vaughn III, CEO, Opifex-Synergy
Overall, financing continues to play an increasing role in the equipment rental market, whether it’s for rental fleet acquisitions or same-store sales.
Bullish on specialty
The company’s long-term growth plan also includes expansion of its specialty rental products and service offerings, according to the release.
Complex construction projects and demand for turnkey solutions are driving the specialty rental market, Vaugh said. In addition to equipment, many customers want “a partner who can solve a problem on-site, whether that’s trench safety, pump and power, or climate control.”
“The key to capitalizing is expertise,” he said. “It’s not just about having the equipment — it’s about being the first call when a contractor faces a challenge. You need people who know how to design a safe trench system, set up an effective pump solution or designing a power solution that won’t wet stack. That’s why we’re investing in training, dedicated teams and service support around specialty.”
The company’s commitment to specialty products reflects a broader market trend, with industry giants such as United Rentals and Herc Rentals also expanding their specialty rental fleets.
In fact, specialty rentals have been a central part of Herc’s integration of H&E Equipment Services since acquiring the company for $5.3 billion.
“In line with this strategy, we’ve continued to over-index our gross CapEx plans towards specialty as a percent of our fleet composition long term,” Herc President and CEO Larry Silber said during the company’s July 29 earnings call. “We’re also planning to repurpose general rental branches into ProSolutions facilities beginning this year to support specialty equipment capacity with 160-plus acquired locations.”
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