Mike Watts to Retire from Sunstate After 40 Years

Mike Watts, founder and executive chairman of Sunstate Equipment, will retire in February after 40 years with the company. Majority owner Sumitomo Corp., with first invested in Sunstate in 2009 and increased its stake to 80 percent in 2013, will become the full owner of the business, led by Watt’s son, Chris, as CEO.

A highly respected industry veteran, Mike Watts, 68, will continue to serve as an advisor to Sunstate's board of directors.

“After 47 years in the rental industry, starting Sunstate and building it over the past 40 years, I feel very comfortable and satisfied with our position in the industry, the calibre of business we have built, and the opportunities for the future," Watts said. “I am proud of our success and the strong positive culture we have developed, which is creating an environment that allowed people to feel they were valued, provided opportunities for growth, and held everyone accountable to the consistent standards we created. The belief remains the same, that when we do this, people enjoy coming to work each day and make small improvements so we can continue to build a great business.  I am especially pleased that my son, Chris Watts, will have the opportunity with his ability to take Sunstate to an even higher level.”

Watts started his career in the rental industry in 1970 and founded Sunstate with his wife in 1977, with four employees. It has since become one of the largest rental businesses in the world with 61 locations in nine states.

Watts was inducted into the American Rental Association’s Rental Hall of Fame in 2010.