Custom Truck One Source Inc

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Other Pre-Announcement, Mergers / Acquisitions

Nesco Holdings To Acquire Custom Truck One Source, Create Leading Specialty Rental Equipment Company In Partnership With Platinum Equity

Published: 12/03/2020 12:41 GMT
(NSCO) - Nesco Holdings to Acquire Custom Truck One Source and Create Leading Specialty Rental Equipment Company in Partnership With Platinum Equity.
Nesco Holdings Inc - Deal for $1.475 Billion.
Nesco Holdings - Affiliate of Platinum Equity, Committed to Invest Over $850 Million in Exchange for Newly Issued Stock at a Price of $5.00 per Share.
Nesco - Subject to Closing Mechanics, Additional Equity Investment of Up to $200 Million, Upon Closing, Platinum Expected to Own About 57% of Co's Stock.
Nesco Holdings Inc - Transaction is Anticipated to Also Be Financed With a New $750 Million Abl.
Nesco Holdings Inc - Combined Company Expects to Deliver Pro Forma 2020 Adjusted EBITDA of Approximately $337 Million.
Nesco Holdings Inc - at Closing, Nesco Board Will Be Reconstituted Such That Blackstone, Ecp and Capitol Each Retain One Board Seat.
Nesco Holdings Inc - at Closing, Platinum Holds Majority Voting Power of Nesco Board.
Nesco Holdings Inc - Fred Ross is Expected to Serve As CEO of Combined Business.