Memphis-based Mahaffey USA, one of the country’s leaders in temporary and semi-permanent structures, has been acquired by Sunbelt Rentals Inc., one of the largest rental companies in North America.
Mahaffey Event and Tent Rentals will continue to operate as a stand-alone business in Memphis because it is not part of the announced transaction.
“We are excited about this partnership that signals a big, bright future for the industrial piece of our business, Mahaffey USA,” said William Pretsch, Mahaffey USA board chairman. “The large structures we’re famous for are the perfect complement to the broad lineup of products and specialty services Sunbelt Rentals provides.”
Mahaffey USA will retain its leadership and Memphis support center, according to the news release.
Terms of the deal between Mahaffey USA and Sunbelt Rentals were not released.
Mahaffey USA customers include FedEx, Fluor, the U.S. Army, BP, Exxon, Ford, Toyota, Nissan and Pfizer, according to the news release.
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Mahaffey USA was founded in Memphis in 1924 and its headquarters remains here. The company stands up more than 400 large-scale temporary fabric structures each year, according to a news release. The company also provides structures for military base camps, warehouses, site covers for the construction industry and production space for manufacturers.
Until 1999, Mahaffey USA and Mahaffey Event and Tent Rentals operated as one business. The separation into two businesses occurred, so each could focus on its respective customer groups.
Mahaffey Event and Tent Rentals works with consumers on parties and special events in Memphis and the Mid-South. Both companies’ headquarters are on Delp Street.
Mahaffey USA employs 125 people in Memphis, all of whom will become Sunbelt Rentals employees following the acquisition.
Sunbelt Rentals, a wholly owned subsidiary of Ashtead Group, provides equipment rentals for the industrial, construction, municipal and DIY markets through its locations nationwide.
Mahaffey USA President George Smith will remain with the company to ensure a smooth transition following the acquisition. Smith and Pretsch will continue to own and run Mahaffey Event and Tent.
“This is a proud day for the employees of Mahaffey USA,” Smith said in a news release. “Together we have built a business that attracted the attention of the country’s leading equipment rental company. This year we were recognized as the top Memphis company on Inc. magazine’s list of the 5,000 fastest-growing companies in America, with growth of 661 percent. Our associates at every level have contributed to this phenomenal success, and I am excited for them. This is a tremendous opportunity for our people and our company to continue the incredible growth we have experienced over the last decade.”
Omer Yusuf covers the Ford project in Haywood County, residential real estate and tourism for The Commercial Appeal. He can be reached via email [email protected] or followed on Twitter @OmerAYusuf.
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