Sunbelt acquires MSP
Sunbelt Rentals, the US division of Ashtead, has acquired the ongoing business and assets of Delware based access rental company MSP, in a deal with $23 million.
MSP operates from a location in Newcastle, Delaware – to the south of Wilmington and serves an area that includes Delaware along with parts of Pennsylvania, New Jersey and Maryland. The company runs an extensive fleet of aerial work platforms and telehandlers from Genie and JLG, along with lighting towers and some earthmoving equipment.
MSP Equipment Rentals was founded in 1998 when Michael Cassidy became frustrated with the service and availability from rental companies offering aerial lifts, which he was increasingly requiring for work in his painting business – Cassidy Painting. He therefore began buying his own booms and scissor lifts. This generated demand from other contractors to rent them out and so the rental business was established. The MSP name came from the first letters of his children’s names - Michael, Shannon and Patrick.