Nesco Holdings has acquired Missouri-based Custom Truck One Source (CTOS) for $1.475 billion. The combined company will be known as Custom Truck One Source, Inc.
The companies said the transaction creates a one-stop shop for specialty rental equipment, serving attractive and growing infrastructure end markets, including the transmission and distribution energy grid, the 5G revolution build-out, and critical rail and other national infrastructure initiatives.
“We believe that our stockholders will realize the benefits of the combination as we create one of the largest specialty rental fleets in the country,” said Fred Ross, co-founder and CEO of CTOS. “Moreover, we are excited to bring a larger platform to our customers and to continue to provide them with the outstanding customer service they have come to expect from both of us.”
In addition, Platinum Equity has become the majority stockholder of the company, while existing CTOS equity