Equipment Rental Company EquipmentShare Officially Goes Public on NASDAQ
The 11-year-old company joins the likes of United Rentals, Herc and Sunbelt in going public and plans to expand to 700 locations...
machineryasia 
Just over a month after filing for an initial public offering with the Securities and Exchange Commission, equipment rental company EquipmentShare has officially gone public.
EquipmentShare’s Class A common stock began trading on the NASDAQ under the ticker symbol EQPT on January 23, offering investors 30.5 million shares at an initial price of $24.50 each.
The company joins the ranks of equipment rental powerhouses United Rentals, Herc Rentals and Sunbelt Rentals in going public.
Known for its proprietary T3 fleet management system that integrates with its rentals and its digital-first business model, EquipmentShare filed for the IPO on December 9. The filing offered a detailed overview of the company's performance over the last several years and a pitch for its plans for expansion in the construction market.
A statement within the initial filing from EquipmentShare co-founders Jabbok and Willy Schlacks illustrates how they see capital raised from the IPO fueling growth:
“We see a clear path to expand our footprint to 700 rental locations, broaden our adoption of our technology and jobsite solutions and position EquipmentShare to capture opportunity from $7 trillion of U.S. projects in the pipeline today.”
A major selling point for the IPO was EquipmentShare's revenue growth. Since opening its first location in 2015, the company has reported consistent year-over-year revenue growth, culminating in a 47% increase to $3.8 billion for EquipmentShare's 2024 fiscal year.
A notable portion of that $3.8 billion in 2024 total revenue came from equipment sales, which rose 91% year-over-year to $1.7 billion. At the same time, equipment rental revenue rose 24% to $1.9 billion that year.
