Home improvement giant to enhance rental offerings via acquisition

The Home Depot had acquired a company that will it enable it to expand its tool and equipment rental offerings to both professional and do-it-yourself customers.



After years of working with Compact Power Equipment, The Home Depot announced a deal to acquire the equipment rental and maintenance services company for $265 million in cash. The transaction is expected to close by the end of the company's fiscal second quarter.



As a commercial partner of The Home Depot since 2009, Compact Power Equipment currently provides compact equipment rentals at more than 1,000 stores across the U.S. and Canada. The company also provides equipment maintenance services nationwide to a range of customers, including The Home Depot.



"We've worked closely with the talented team at Compact Power Equipment for many years and are delighted to welcome them to The Home Depot family," said Craig Menear, chairman, CEO and president of The Home Depot. "The acquisition allows us to further improve the customer experience – in particular for Pros – through enhanced equipment and tool rental offerings. It also allows us to grow Compact Power's best-in-class building services capabilities."