Yard Club, a startup founded to make more efficient use of construction and other heavy equipment, has been acquired by Caterpillar. Terms were not disclosed, but Yard Club CEO Colin Evran confirmed the deal had closed earlier this week.
The deal came about almost exactly two years after Caterpillar announced a strategic investment in Yard Club. As part of that investment, Yard Club began working with the dealers in the Caterpillar network and helping them to rent as well as sell equipment to contractors and construction crews.
Since then, Yard Club has continued to grow its rental business, while also adding features for users. According to the company’s website, Yard Club processed $120 million in transactions across 2,500 contractors and rental companies in 2016.
Read more about the initial investment here.
Read the complete article here.
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