Chas. E. Phipps Acquires Columbus Ohio Based Machinery & Tool Rentals, Inc. (MTR)

FOR IMMEDIATE RELEASE 

The Chas. E. Phipps Company acquires Machinery & Tool Rentals, Inc. (MTR) 

Cleveland, Oh. - The Chas. E. Phipps Company is pleased to announce the asset purchase of Machinery & Tool Rentals, Inc. (MTR) effective June 1, 2023. Incorporated in 1921, Phipps is a 4th generation, family owned and operated specialty construction products and equipment distributor headquartered in Cleveland, Ohio. Based in Columbus, MTR was established in 1956 and specializes in sales, rental and repair of construction equipment and supplies. With this acquisition, Phipps will have 4 locations serving central and northern Ohio. For more information on locations, products, and services, visit www.phipps.com.

Phipps President, Ben Brown expressed that, "The owners and entire team at MTR have a great reputation in the construction industry. We are excited to partner with them and expand on the product lines they have been providing to the greater Columbus region. With the combined resources of Phipps and MTR, we will further enhance our capabilities and deliver exceptional value to our customers throughout central and northern Ohio.” 

Brown feels passionate about continuing the legacy of the family business by building on the foundation of the leaders that came before him. Phipps has long held a reputation for having a well-trained team of experts that brings value to their customers and suppliers. He is excited to build on this legacy and expand Phipps’ reach to bring what they do best to more contractors in Ohio. Being locally owned and operated gives the Phipps team the flexibility to work collaboratively with contractors and deliver unique solutions that large national and private equity firms can't match. 

MTR President and CFO Mark Gabel believes, "The merger of Phipps and MTR is the perfect fit. Our cultures, values and commitment to customer service are extremely compatible. We believe we will now be the premier construction product, equipment and service provider in the state of Ohio." With a combined 169 years of experience servicing contractors in Ohio, the entire team is proud to continue the journey together and bring best in class service to their customers. 

MTR Vice-President and owner Steve Forquer commented, "We want to thank our customers for their loyalty since 1956. We want them to know that we will continue to provide them with the excellent service and product offerings they are used to. This acquisition will enhance our ability to provide contractors with the service and products needed to make their jobs run smoothly.” 

For more information about our Columbus Branch, click HERE

For questions, please contact customerservice@phipps.com