MEMPHIS, Tenn., July 22, 2022 /PRNewswire/ -- On Wednesday, July 20, 2022, Pittco Management, LLC (Pittco) partnered with 1819 Partners, LLC, a private investment firm based in Memphis, TN, to establish Crockett Partners Fund I, LP (Crockett Partners). Crockett Partners was formed to own, rent, and resell construction and industrial equipment. Through an agreement with EquipmentShare.com Inc (EquipmentShare), of Columbia, MO, Crockett Partners will place its equipment on EquipmentShare's third-party equipment ownership platform to be rented to EquipmentShare's end customers.
"The construction and industrial equipment rental market offers attractive return potential with low correlation to equity markets," said Henry Guy, Pittco's Chief Investment Officer, adding, "we are very pleased to enter this market through an agreement with EquipmentShare, a leading integrated equipment service company and one of the largest purchasers of heavy equipment in the United States. We're also excited to establish this partnership with 1819 Partners, an investment firm we hold in very high regard."
"We have known the Pittco team for some time and could not have asked for a better partner as we look to grow this equipment strategy together over the coming years," said Drew Hursey, Managing Director at 1819 Partners. "Knowing the strength of EquipmentShare's operations and culture, we are confident that this will be a fruitful and lasting collaboration."
Pittco is a single-family office for the family of Pitt Hyde, founder of AutoZone, and his wife, Barbara. Pittco was established over 30 years ago, and provides investment, accounting, tax, and financial services from its headquarters in Memphis, Tennessee.
Pittco Management, LLC
SOURCE Pittco Management, LLC