“Cat’s customer portal my.cat.com allows customers to access rental information, inspections, telematics data, and a variety of other information. He said while Yard Club continues to facilitate rentals in seven states, “that may change in the next three to six months.” Radio silence.īut after a recent conversation with someone who has been with Yard Club long before the Cat acquisition, the reason for Cat’s silence on the deal has become a bit clearer: the deal had much more to do with technology than P2P rental.Īaron Kline joined Yard Club two-and-a-half years ago and before the acquisition served as the company’s chief operating officer. However, not only did Cat decline to disclose terms, the heavy equipment giant didn’t really acknowledge the purchase at all. You might assume Cat would be shouting from the rooftops about this deal. Last year, Yard Club facilitated more than $120 million in equipment transaction in North America. Prior to the purchase of Yard Club, which was founded in 2013, Cat had invested in the startup and infused rental inventory into the young company’s fleet. Competitors include EquipmentShare, Getable and the fast-growing Dozr to name just a few. The acquisition gave Cat a stake in what’s becoming a crowded marketplace for peer-to-peer equipment rental. The deal, terms of which were never disclosed, gave considerable weight to the notion that P2P equipment rental services, which allow contractors to rent machines in their fleets to one another, were changing the heavy equipment landscape. When news broke in May that Caterpillar had acquired peer-to-peer (P2P) equipment service Yard Club, it raised a lot of eyebrows in the heavy equipment and construction industries.
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