Wincove Recapitalizes and Provides Growth Capital to Elite Equipment Rental

Roosevelt, UT– May 10, 2024 – Wincove Private Holdings, LP (“Wincove”) announced today that it has led a transaction to recapitalize and provide growth capital to Elite Equipment Rental, LLC and its subsidiary, Elite Parts, LLC (“Elite” or the “Company”).

Elite is a full-service provider of hydro excavation trucks (“hydrovacs”) and ancillary equipment to industrial, utility, construction, and municipal service providers.  Hydrovacs use high pressure water and vacuum technology to excavate and clean in a manner that is safer and more precise than traditional methods.  Elite maintains a large fleet of “good as new” hydrovacs for rent, and also provides new and resale equipment, parts, and best-in-class maintenance services.  Wincove is partnering with Founder and President, Chris Chapman, who will remain in his current leadership role.

“Chris and Roger Chapman have built a unique and differentiated business over the past 10 years,” said John Lenahan, Partner at Wincove. “We are very excited to partner with them and the team at Elite, and to support the Company in its next phase of growth.”

Chris Chapman, added, “this recapitalization is an important step in fueling our growth.  We are excited to continue to build Elite, including our fleet and geographic footprint, all while continuing to deliver the best equipment and service to our customers.”

About Elite Equipment Rental, LLC and Elite Parts, LLC

Elite is based in Roosevelt, UT with four additional locations across the Western United States. Elite rents, sells, and services hydrovacs and related equipment and offers a robust inventory of replacement parts for both rental and third-party customers. Together with a young rental fleet and in-house maintenance capabilities, Elite supports its customers with newer equipment to reduce downtime. For more information about Elite, please visit https://www.eliterentals.net/.

About Wincove Private Holdings, LP

Wincove Private Holdings is an investment company that creates long-term capital appreciation for its shareholders by partnering with business owners, entrepreneurs, and management teams to transform founder-owned companies into market leading businesses. Based in Boston, Wincove has a permanent capital base, and can stay invested in its partner companies for an unlimited time. For more information about Wincove, please visit www.wincove.com.