NESCO Sold to Energy Capital Partners

January 6, 2014 - Platinum Equity has singed a definitive agreement to sell NESCO, Fort Wayne, Ind., to an affiliate of Energy Capital Partners LLC. The sale is expected to close during the first quarter of 2014.

 

Platinum Equity acquired controlling interest in NESCO in October 2011 from an investor group that included its founder, Rob Troxel. The company is a leading provider of fleet equipment rental, sales, and services for the North American electrical transmission and distribution market. 

 

Significant capital investments were made in NESCO's people, fleet, operations, processes, and systems when it was part of the private equity group's portfolio. Under Platinum Equity's ownership, the company completed two add-on acquisitions, including Penske's utilty rental division and Utility Equipment Leasgin Corporation, which helped grow NESCO's fleet and expand the company's foothold in key regions.

 

"We are proud of the way NESCO has grown and evolved over the past two years," said Louis Samson of Platinum Equity. "The business is well poisition for continued success under Lee Jacobson's leadership and ownership of ECP.