NEW YORK — One Rock Capital Partners, LLC (“One Rock”) announced that one of its affiliates has acquired a majority stake in American Furniture Rentals, Inc. (“AFR” or the “Company”).
“I’m incredibly excited to celebrate this major milestone for American Furniture Rentals (AFR) and our new investment partners, One Rock Capital Partners,” said Jose Lopez, vice president, trade show segment. “We are proud to welcome new ownership that brings deep industry expertise, significant resources, and a shared vision for accelerating AFR’s growth. This partnership represents a powerful force multiplier as we continue to invest in our people, expand our operational capabilities, and elevate the client experience—especially across our Trade Show and Event businesses. The future for AFR has never been brighter.”
Established in 1975, AFR is a service-driven furniture rental provider serving the special events, trade show, residential, and commercial markets. The company serves customers across the United States from 28 distribution centers nationwide and is headquartered in Pennsauken, New Jersey. Neil Scholnick, AFR’s executive chairman and longtime controlling shareholder, will retain a stake in the company and continue to serve on its board of directors.
“Over its five-decade history, AFR has grown to be a leader in the furniture rental industry and earned its customers’ trust,” said Michael Koike, partner at One Rock. “We believe AFR has a significant opportunity to further scale its business.”
Thomas Lamothe, principal of One Rock, added, “We admire AFR’s strong culture, service focus, and operational excellence. We are excited to partner with Neil Scholnick, John Haener, and their team as AFR enters its next phase of growth.”
“This transaction marks a milestone for AFR,” said John Haener, chief executive officer of AFR. “With One Rock’s resources and strategic perspective, we are well-positioned to build on our strengths, elevate our offerings, capitalize on new opportunities, and continue delivering outstanding service to customers across the country. We look forward to a productive and successful partnership and are excited about what lies ahead.”
“I am pleased to remain closely connected to AFR by serving on the board of directors and supporting the company’s execution of its long-term growth strategy,” said Neil Scholnick, founder of AFR. “I want to thank the entire AFR team, whose dedication and execution over many years have made AFR what it is today and positioned us for future success.”
Houlihan Lokey served as financial advisor to AFR, and Klehr Harrison Harvey Branzburg LLP served as AFR’s legal counsel. Latham & Watkins, LLP served as legal counsel to One Rock.
ABOUT ONE ROCK CAPITAL PARTNERS, LLC
One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value. For more information, visit www.onerock.com.
ABOUT AMERICAN FURNITURE RENTALS®
Headquartered in Pennsauken, New Jersey, American Furniture Rental® is a leading, national furniture rental company. Established in 1975, AFR is an award-winning provider of solutions for every type of furniture rental situation, including residential, home staging, commercial, special event and trade show. With 28 strategic locations across the United States, AFR offers customers a differentiated rental experience through stylish and quality products matched with a commitment to excellence of service. See the full inventory of furnishings and find out more about AFR at www.rentfurniture.com.
submitted by AFR, edited by Mark Hebert
