What We Buy – Bender Equity Industrials

The businesses that move American industry.

Six categories. Platforms anchor; add-ons scale.

Platform VS. Add-on

Platforms are standalone companies we build around — a full management team and room for several bolt-on acquisitions. Add-ons are smaller businesses that plug into a platform, bringing a customer book, a territory, a specialty, or a team — and gaining a back office in return.

What we're actively buying

Platform

Forklift Dealerships

Multi-line and single-line dealers — the best anchors, where parts, rental, and service compound for decades.

We look for: 15+ years operating, tenured techs, clean OEM relationships, and room to grow. Service mix of 30%+ preferred. PA, OH, IN.

Add-on

Parts & Service

Independent parts distributors and service shops — the highest-margin, stickiest revenue in the business.

We look for: Recurring service contracts or a solid walk-in base, certified techs, and territory density.

Platform

Aerial & Rental Fleets

Forklifts, booms, scissors, telehandlers, and general rental. Capital-intensive — where our family-office backing is a real advantage.

We look for: 60%+ fleet utilization, diversified customers, and well-maintained equipment in underserved markets.

Add-on

Warehouse Automation

Integrators and racking or conveyor specialists — the picks-and-shovels of warehouse modernization.

We look for: Proven project execution, service revenue from the installed base, and a clean safety record.

Add-on

Industrial Service

Fleet management, inspection, certification, training, and compliance. Fragmented and high-margin.

We look for: Recurring or contracted revenue and customer overlap with our platform markets.

Add-on

Specialty Equipment

Attachments, batteries, tires, and specialty vehicles. The best companies don’t make forklifts — they make what attaches to them.

We look for: A defensible niche with technical barriers and replacement-cycle economics. National is fine if it’s the right add-on.

Thinking about selling?

One call. No NDA, no deck. We’ll tell you honestly whether there’s a fit — and if so, what the next step looks like.