Charlotte, NC – March 18, 2019 – Lift It Rentals, LLC (LIR), a leading equipment rental and finance Company, announced its financial results for 2018. The Company achieved record results in terms of Revenue, EBITDA, Machine Deployments and Assets under Management, driven by strong demand from its customers in the infrastructure, energy, commercial real estate, agricultural and industrial markets. The company continued its upwards trajectory and rapid growth as Revenues grew 51% and [PA1] EBITDA increased by 67%, respectively, year over year (YOY).
Paul Adkison, the Founder and Chairman of LIR, stated “We are very pleased with the Company’s solid growth and continued prosperity. The entire team has worked diligently and remained focus on our core goals of buying right, renting right and selling right. In addition, we’ve created great partnerships with capital partners who have given us added confidence as we continue to grow and expand. We have recently added new equipment partners, which we believe will continue to allow us to grow our revenue base into 2019 and beyond.”
Over the past three years LIR has grown its Revenues and EBITDA by 467% and 575%, respectively, largely driven by strong demand for Merlo telehandlers from customers in a wide variety of industries. LIR has focused on growing its partnership with Merlo and offering [PA2] its customers best in class machinery for their rigorous and diverse project requirements. “Merlo [PA3][MA4] has been a valuable partner in our growth and expansion,” adds Company President Scott Diggs. “Our customers are impressed with the quality of Merlo machines that boast some of the highest safety and reliability ratings in the world and are putting them to work in warehouses, agricultural, mining and construction jobs across the country. We are excited to add Access Equipment to our product lineup from Venieri and Aero. We expect these new additions will be well received by our customers.”