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NESCO Acquires Utility Equipment Leasing Corporation

December 24, 2012, 07:30 AM
Filed Under: Rental News

NESCO, LLC (“NESCO”) announced that it has acquired Utility Equipment Leasing Corporation (“UELC”) from Utility Equipment Holding Company (“UEHC”), pursuant to a stock purchase agreement.

NESCO, acquired by Platinum Equity in October 2011, is a leading North American provider of specialty rental equipment for the electric power transmission and distribution industry. UELC provides lease and rental solutions for utility trucks and related equipment, and was founded in 1967 as a sister company of DUECO Inc. (“DUECO”), the largest distributor of Terex Utilities products in the United States.

The acquisition of UELC adds over 500 units to NESCO's existing fleet and will expand NESCO's branch footprint into CA and TX. Financial terms of the transaction were not disclosed.

“Acquiring UELC further broadens NESCO's fleet offering and expands our customer base and ability to service our customers' equipment needs nationwide,” said Lee Jacobson, NESCO‘s Chief Executive Officer. “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 strategic consolidation.”

Utility Equipment Leasing Corporation, founded in 1967 offers rental and leasing units ranging from bucket trucks and digger derricks to cable pullers and track vehicles. UELC is a strong business partner to contractors, utilities, municipalities and other industries across the nation.

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