This is the second time Bob Richardson has sold an equipment rental company that caters to the construction industry.
His first, AAA Rent-All, he sold in 1997. The same brokerage company that approached him with that deal called again.
“The guy kind of called out of the blue and said, ‘Hey, do you remember me?’” says Troy Richardson, who is one of Bob Richardson’s three sons who planned to take over the business.
Bob Richardson initially told the broker he wasn’t interested, but the family eventually decided it was in everyone’s best interest to sell, in part because of the difficulty the sons would have faced financing the purchase.
Troy Richardson says there are a lot of positives with the sale to Volvo.