NESCO Sales and Rentals acquires Penske Utility Rentals
The purchase will strengthen NESCO’s East Coast and Mid-Atlantic presence and provide customers access to more than 2,500 units plus a nationwide parts and service network.
NESCO Sales and Rentals announces the acquisition of the Penske Utility Rentals fleet. The purchase will strengthen NESCO’s East Coast and Mid-Atlantic presence and provide customers access to more than 2,500 units plus a nationwide parts and service network.
“Acquiring these assets further broadens NESCO’s fleet offering and expands our ability to service our customer’s equipment needs nationwide,” said Lee Jacobson, NESCO's CEO. “The acquisition solidifies our position as one of the premier service and equipment providers in the utility and telecommunications rental markets, and demonstrates NESCO and Platinum Equity's commitment to growth. We will continue investing in the breadth and quality of our fleet.”
Louis Samson, the Platinum Equity partner who led the firm’s acquisition of NESCO and has been working with NESCO on its mergers and acquisitions strategy, said today’s announcement “represents another step forward in Platinum Equity's efforts to support NESCO's overall growth strategy.”
About Nesco Sales and Rentals
NESCO Sales & Rentals has over 2,500 new & used bucket trucks, digger derricks, truck cranes, pressure diggers, aerial platforms, sign trucks, pullers, tensioners, reel trailers, pole trailers, underground equipment, cable rodders, cable pullers, mini diggers, service trucks, utility trucks, augers and more. We are an authorized distributor for: Elliott Equipment, Manitex Cranes, Mantis Cranes, National Crane, Hogg & Davis, OK Champion, Watson Drill Rigs, Condux, SDP Manufacturing, Morooka, Posi Plus, Skylift, Fairmont, Arnco and a Samson Rope Strategic Partner. NESCO is a Terex Utilities Authorized Rental Partner. The NESCO Difference includes:
• Equipment locations throughout the United States and Canada
• Nationwide service and repair network
• An extensive selection of late model units
• Immediate equipment availability
• Fully inspected and tested for safety and reliability
• Flexible equipment rental, leasing and purchase options
About Platinum Equity
Platinum Equity (www.platinumequity.com) is a global M&A&O firm specializing in the merger, acquisition, and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metal services, rental services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 140 acquisitions.
For more information about NESCO Sales & Rentals or other fleet sales and rental information, click here to go to Utility Products' Buyers Guide.