EquipmentShare founders comment on IPO completion

EquipmentShare priced its initial public offering (IPO) of 30,500,000 shares at US$24.50, in the middle of the $23.50-25.50 target pricing range.

The shares started trading on Friday 23 January on the Nasdaq Global Select Market under the ticker symbol EQPT.

Photo: EquipmentShare

The IPO will see co-founding brothers Jabbok and William Schlacks remain as majority owners of the $3.8 billion revenue rental business.

Jabbok Schlacks, co-founder and CEO of EquipmentShare, said; “Our vision since we founded EquipmentShare more than 10 years ago was to transform the fragmented and underserved construction industry and fuel the engine that powers America’s growth.

“The substantial investment in infrastructure, energy, and industrial projects over the next 10 years demands a new approach – one that is data-driven, connected, and built for scale.

“We believe that EquipmentShare is best positioned to connect the industry, and becoming a public company allows us to extend our impact for the customers and communities we serve.”

Willy Schlacks, the company’s co-founder and president, added; “As contractors, we spent years on jobsites watching machines sit idle while projects fell behind schedule. It was a systemic failure of visibility.

“We have an incredible team building the future of construction through our T3 technology platform that connects assets, materials, and people – and we believe it will support our expansion into new verticals and new sectors within and beyond construction.

“Now, as a public company, we are staying true to our long-term vision of bringing visibility and control to the construction industry: combining physical distribution with the transition from analog processes to a digital reality to modernize how contractors manage every facet of their projects.”