Caterpillar acquires Yard Club

Yard Club, a startup founded to make more efficient use of construction and other heavy equipment, has been acquired by Caterpillar.

Terms were not disclosed, but Yard Club CEO Colin Evran confirmed the deal had closed earlier this week.

The deal came about almost exactly two years after Caterpillar announced a strategic investment in Yard Club when Yard Club began working with Cat dealers, helping them to rent and sell equipment to contractors and construction crews.

Since then, Yard Club has continued to grow its rental business while adding user-friendly features.  Yard Club reports it has processed $120 million in transactions across 2,500 contractors and rental companies in 2016.

Yard Club has moved from a transactional business based on making a percentage on rentals made on its platform to one that provides a software as a service (SaaS)platform to help customers manage equipment they own or rent, covering dispatch, scheduling and fleet visibility, inspection and maintenance management.

According Yard Club’s website, the company’s mission is to build technology for the men and women who build our world. Its current products are the operating systems that contractors and rental companies use to manage their equipment. With next-generation web and mobile apps, the Yard Club platform makes it easy for construction professionals to streamline communication, optimize utilization and remotely manage their owned and rented equipment fleet.