May Heavy-Equip Rental & Sales this week announced the recapitalization of May Heavy Equipment by VSTH Capital. The transaction closed July 23, and financial terms were not disclosed.

The transaction with VSTH Capital, a Charlotte, N.C.-based merchant bank, provides significant equity capital to support May Heavy’s growth and fleet rejuvenation strategy.

“The announcement of this partnership and recapitalization with VSTH Capital represents a key milestone in our ongoing efforts to become the premier heavy equipment rental and sales company in the Southeast,” said Jacob May, May Heavy president. “It will allow us to move faster, evaluate larger opportunities, and provide more certainty of long-term success, while greatly improving our balance sheet as we prepare for significant growth."

“We are impressed with May Heavy’s reputation in the industry and their steadfast commitment to building what will be the newest and best rental fleet in its geography over the next 12 to 18 months,” said VSTH Capital president Kerry Vickar. “We are pleased that May Heavy will be our partner and we will provide additional leadership and capital to assist the company in executing its growth plan organically and through acquisitions. We think this transaction combines great capabilities at both of the firms.”

Founded in 1997 by Bert and Jacob May, May Heavy has grown throughout the Southeast as a source for heavy equipment rentals, sales and service. May Heavy services Virginia, North Carolina, South Carolina and Georgia, and sells its used equipment worldwide. May Heavy offers a variety of specialty machines such as long-reach excavators, hydraulic rock hammers, water trucks, and many types of compaction equipment. It is an authorized Hyundai, Kawasaki, and Terex dealer and carries a full line of their equipment. May Heavy is also an authorized Sakai dealer in South Carolina, carrying and supporting its full line of compaction equipment.

VSTH Capital is a lower middle market merchant bank whose investment approach combines the disciplines of value investing with operational activism.