Lensrentals acquires BorrowLenses

Lensrentals, a prominent player in the online rental service for photo, video, audio, and lighting equipment, has made an exclusive acquisition of BorrowLenses, a significant competitor in the realm of photographic and video equipment rentals, as revealed by TechCrunch. In a commodity market characterized by fierce competition, neither brand holds a distinct advantage over the other. While the terms of the deal remain undisclosed, a source familiar with the matter suggests it is likely an all-cash acquisition.

BorrowLenses has traversed an intriguing path, having been acquired by Shutterfly approximately a decade ago. Shutterfly, once a publicly traded entity, was subsequently acquired by Apollo in 2021—the same Apollo that acquired Yahoo, which owns TechCrunch.

Established in 2006, Lensrentals has steadily gained an edge over BorrowLenses, boasting a larger staff and customer base. Headquartered in Tennessee, Lensrentals has garnered acclaim for its employee ownership model, fostering a reputation as a customer-centric company.

Tyler Beckman, CEO of Lensrentals, describes BorrowLenses as “friendly rivals” that mutually drive each other towards excellence. Beckman sees the acquisition as an opportunity to leverage the benefits of operating at a larger scale, emphasizing the positive impact of employee ownership on customer experience.

While the implications of the acquisition on job security for BorrowLenses staff and the San Carlos location remain uncertain, Lensrentals is swiftly evaluating the feasibility of retaining employees and the location throughout the process.

BorrowLenses boasts a diverse array of equipment, which will need to be seamlessly integrated into Lensrentals’ existing inventory of over 400,000 rentable items spanning more than 6,000 lenses, cameras, drones, lighting, audio, and studio equipment. This expansive selection, coupled with fast nationwide shipping and comprehensive insurance coverage, has positioned BorrowLenses favorably against smaller, local camera rental establishments.