One Rock Capital Partners, LLC (“One Rock”) announced today that one of its affiliates has acquired a majority stake in American Furniture Rentals, Inc. (“AFR” or the “Company”).

Established in 1975, AFR is a leading, service-driven furniture rental provider to the special events, trade show, residential and commercial markets. AFR services the entire US from 28 distribution centers, and is headquartered in Pennsauken, New Jersey. Neil Scholnick, AFR’s Executive Chairman and longtime controlling shareholder, will retain a stake in AFR and continue to serve on its board of directors.

“Over its five-decade history, AFR has grown to be a leader in the furniture rental industry and earned its customers’ trust,” said Michael Koike, Partner at One Rock. “We believe AFR has a significant opportunity to further scale its business.”

Thomas Lamothe, Principal at One Rock added, “We admire AFR’s strong culture, service focus and operational excellence. We are excited to partner with Neil Scholnick, John Haener and their team as AFR enters its next phase of growth.”

“This transaction marks a milestone for AFR,” said John Haener, CEO of AFR. “With One Rock’s resources and strategic perspective, we believe we are well-positioned to build on our strengths, capitalize on new opportunities and continue delivering outstanding service to customers across the country. We look forward to a productive and successful partnership.”

“I am pleased to remain closely connected to AFR by serving on the board of directors and supporting the Company’s execution of its long-term growth strategy,” said Neil Scholnick, Founder of AFR. “I want to thank the entire AFR team, whose dedication and execution over many years have made AFR what it is today and positioned us for future success.”

Houlihan Lokey served as the exclusive financial advisor to AFR and Klehr Harrison Harvey Branzburg LLP served as AFR’s legal counsel. Latham & Watkins LLP served as legal counsel to One Rock.

ABOUT AMERICAN FURNITURE RENTALS^®

Headquartered in Pennsauken, New Jersey, American Furniture Rental^® is a leading, national furniture rental company. Established in 1975, AFR is an award-winning provider of solutions for every type of furniture rental situation, including residential, home staging, commercial, special event and trade show. With 28 strategic locations across the United States, AFR offers customers a differentiated rental experience through stylish and quality products matched with a commitment to excellence of service.

See the full inventory of furnishings and find out more about AFR at www.rentfurniture.com.

ABOUT ONE ROCK CAPITAL PARTNERS, LLC

One Rock makes investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value.

For more information, visit www.onerock.com.

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