RSC Files for $300 Million Initial Public Offering

February 15, 2007 • RSC Holdings, the indirect parent corporation of Rental Service Corp., Scottsdale, Ariz., announced this week it has filed a registration statement on Form S-1 with the Securities and Exchange Commission in connection with the proposed initial public offering of its common stock. RSC said it expects to raise up to $300 million in the initial public stock offering, although the number of shares to be offered and the price range for the offering have not been determined.

 

The news comes five months after RSC was acquired for $3.4 billion by New York private equity firms Ripplewood Holding and Oak Hill Capital Management from Atlas Copco. RSC plans to use the net proceeds from the offering to repay debt, as well as for general company purposes.

Deutsche Bank Securities, Inc. and Morgan Stanley & Co., Inc. will act as joint global coordinators, and with Lehman Brothers, Inc., the companies will act as joint book-running managers for the offering.