Ellex provides legal support to Storent Holding as it enters the U.S. market

Ellex Latvia has provided legal assistance to construction equipment rental company Storent Holding, which has acquired a 70% stake in the U.S.-based equipment rental company Connect Rentals.

The transaction was completed on 30 September 2025, marking a significant milestone in Storent’s international growth strategy.

Storent, founded in 2008, is one of the leading equipment rental companies in the Baltics, with a strong presence in Latvia, Lithuania, Estonia, Finland, and Sweden. The company is recognized as a leader in the digitalization of rental processes and continues to introduce innovative solutions within the industry.

Connect Rentals, based in Texas, manages more than 1,250 pieces of equipment and operates two rental locations. The company is experiencing rapid growth and plans to expand its operations across Texas in the coming years.

Legal support was provided by the Ellex Kļaviņš team in Latvia – Partner and Head of Real Estate practice Ivars Pommers and Associate Partner and Co-Head of the Banking & Finance practice group Zane Veidemane-Bērziņa.

Following the completion of this major transaction, Ivars Pommers commented: “acquiring a business in another country requires great courage as well as careful preparation from the entrepreneur. In a vast market like the United States, it is easy to make mistakes , for example, when choosing local advisors, assessing their projected costs, or navigating the usual negotiation and deal-closing practices. An effective tandem of advisors in Latvia, who understand the entrepreneur’s business and needs, together with local consultants in the target acquisition country will be the best solution, providing valuable support both at the initial stage, when attracting and evaluating potential partners, and during the final stage of the transaction. All that remains is to wish the Storent team success in shaping the future of equipment rental across borders!”