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June 2014

NESCO Rentals Acquires Foley Equipment Utility Rental Division

By News

FORT WAYNE, INDIANA (May 30, 2014) – NESCO, LLC announced today that it has acquired the utility truck equipment fleet of Foley Utility Equipment. This acquisition adds 1-2 year old, transmission and distribution units to NESCO’s existing fleet and expands NESCO’s presence in the Midwest. It is NESCO’s commitment to existing Foley utility truck rental customers and the industry to honor all active rental agreements. Financial terms of the transaction were not disclosed. NESCO was acquired by Energy Capital Partners in February 2014.

“Acquiring these assets further broadens NESCO’s fleet offering and expands our ability to service our customer’s needs nationwide,” said Lee Jacobson, CEO of NESCO. “The acquisition solidifies our position as one of the premier equipment and service providers in the utility and telecommunications rental markets and demonstrates NESCO and Energy Capital Partner’s commitment to growth. We will continue to invest in the breadth, depth and quality of our fleet.”

Key Points

  • NESCO acquires Foley Utility Equipment’s utility truck rental fleet
  • Acquisition of Foley Utility Equipment rental fleet adds 1-2 year old, transmission and distribution units to NESCO fleet

About NESCO

NESCO provides everything linemen need to get the job done: aerial lifts, cranes, diggers and stringing gear to blocks, aftermarket parts, tools and accessories. NESCO maintains one of the industry’s largest rental fleets and service networks in the country. With over 40 locations in the U.S. and Canada, 25+ years of industry experience, and as an authorized distributor for your most trusted manufacturers: Terex, Hogg & Davis, Sherman + Reilly, Skylift, and Manitex to name a few; NESCO’s extensive fleet and knowledgeable staff offer the right rental equipment and service you need to get the job done. For more information, visit www.nescorentals.com.

About Energy Capital Partners

Energy Capital Partners is a private equity firm with offices in Short Hills, New Jersey, San Diego, California and Houston, Texas. Energy Capital Partners has raised over $13 billion of capital commitments and is focused on investing in the power generation, electric transmission, midstream gas, oil and gas liquids, renewable energy, oil field services and environmental infrastructure services sectors of North America’s energy industry. The fund’s management has substantial experience leading successful energy companies and energy infrastructure investments. For more information, visit www.ecpartners.com.

NESCO Rentals is a leading equipment and service provider for the utility industry. NESCO’s inventory includes aerial devices, boom trucks, cranes, diggers, drills, stringing gear, trailers and specialty tools for dozens of industries including: foundation, telecommunications, utility construction, and many others.