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COLUMBIA, Mo. — ԹϺ, an equipment and digital solutions provider serving the construction industry, today announced that it has completed an extension of its Series E equity raise, led by funds affiliated with BDT & MSD Partners. Through the extension, ԹϺ raised an incremental $150 million from existing and new investors, for a total of $440 million in Series E funding in 2022 and 2023.
"We are pleased to announce the extension of our equity raise which furthers our ability to build the future of construction through cutting-edge technology," said Jabbok Schlacks, CEO and Co-Founder of ԹϺ. "Once again, our growth is driven by our bar raising rental experience and an influx of customers embracing our technology-driven construction solutions. This round of funding not only attracts fresh capital from both new and existing investors, but it also showcases our ability to stand tall in a challenging macroeconomic landscape, positioning us for even greater success in the future."
"The extension of our equity raise speaks to the strength of our business and our proven track record of performance and growth," said Trevor Schauenberg, CFO of ԹϺ. “This new capital enhances our liquidity and will enable us to continue to invest in the expansion and distribution of our US rental footprint and our T3 technology platform."
"We are excited to deepen our partnership with Jabbok, Willy, and the ԹϺ team in their efforts to transform the construction industry,” said Henry Yeagley, Partner at BDT & MSD Partners. “Through a combination of deep, hands-on industry knowledge and cutting-edge technology systems, ԹϺ is helping to make the rental equipment market and broader construction space more productive, efficient and safe. As an aligned, long-term capital partner to family- and founder-led companies, we look forward to supporting ԹϺ in its next chapter of growth.”
Since its founding in 2015, ԹϺ has experienced rapid growth, spurred by the demand for its fleet management technology and equipment solutions. In 2022, ԹϺ opened 32 new branch locations, and today its geographic footprint has more than 185 locations across the U.S.
