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NWRPC News

Posted on: September 21, 2018

NWBDC Awards Succession Loan for Mercer Rentals

Mercer Rentals.jpg

The Northwest Wisconsin Business Development Corporation (NWBDC) awarded loan funding to assist the ownership transition of Mercer Rentals. This succession funding has allowed Robert Hynes the purchase Mercer Rentals.

Robert Hynes has been an avid traveler to Northern Wisconsin for many years, and owned a very successful excavating company in Florida. Seeking an opportunity to transition his career ownership and knowing that the excavating industry does not have the same opportunities; Hynes is going to repurpose his equipment and increase the rental opportunities currently available at Mercer Rentals, Inc.

“The sale of Mercer Rentals has provided a great opportunity for me to take my working knowledge of sales, servicing, and consulting learned from the excavation industry and transfer it to the rental business,” Hynes stated.

In 2017, a beloved Mercer community leader Ken Sholts passed away and left the business operation to his wife, Patricia. Patricia was heavily involved in the rental operation, but has decided to sell the company to Hynes, who is a very worthy suitor of the business. The Sholts are a beloved family in the Mercer area, and have grown a strong reputation for the business.

“I am very honored and humbled that Ms. Sholts identified me as a suitable buyer of the business that her and Ken built and turned into a community anchor,” Hynes added, “I know I’m filling big shoes and I will do my best to meet the need of the Mercer area.”

Currently Mercer Rentals, Inc. offers rental equipment, small engine repair service, towing of vehicles (rescue and delivery), and Hynes will be able to enhance the equipment rental by adding his personal fleet; add power equipment sales of chainsaws, snow blowers and lawn mowers, as currently these product sales do not exist in Mercer; and continue the servicing of small engines and vehicle towing.

“I look forward to providing the necessary tools to others who are still active, professionally or as a weekend warrior,” Hynes said.

NWBDC’s revolving loan funding provided the needed leverage for the lead bank and Hynes to make the succession possible. This project is expected to retain 3 jobs in Mercer, Wisconsin. To see if your business would qualify for a startup, transition or expansion loan product at NWRPC, contact loan fund manager Ken Pearson at (715) 635-2197.
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