Iron Capital Group has become the first Australian specialist Rent-to-Purchase (RPO) business to push into North America, one of the world’s largest construction and mining markets.
Specialising in the heavy equipment RPO industry, Iron Capital is building its presence across Canada and the United States, deploying six new salespeople to cultivate its strong relationships across the continent.
Managing Director at Iron Capital Group, Paul Ireland, said the business is the only independent RPO supplier of scale in America, and the first Australian company of its kind to branch out to these markets.
“Before introducing our services to the North American market flexible, rent-to-buy solutions – independent of a dealer’s own stock for used earthmoving equipment – were not available,” said Mr Ireland.
“It may seem like a simple solution to offer in one the world’s largest earthmoving markets, but in such a capital-intensive industry, expanding into this territory requires significant investment, understanding, commitment and capital adequacy.
“We believe that based on the growth profile of our local business, the market size of North America and the feedback from key partners that this will be a $500 million plus opportunity in the medium term – so it’s a significant strategic move for Iron Capital.”
The machinery supply shortage in North America offered an appealing recruitment climate for Iron Capital to seek out a top tier sales team, as they invest in new staff to bring local and unique skill sets into the growing company.
Iron Capital Group have not only been able to expand operationally into the market but recruit new account managers on the ground in Texas, Ontario, and British Columbia.
“The new team are out in the market offering our unique solution direct into a thriving earthmoving network, so we can partner with growing businesses and help them obtain additional gear they may not otherwise be able to obtain,” said Mr Ireland.
With this geographic expansion, Mr Ireland said it brings huge growth potential as their market presence, fleet, and partnerships continue to grow.