United Rentals, Inc. Completes $965 Million Acquisition of NES Rentals Holdings II, Inc.

April 3, 2017

United Rentals (North America), Inc., a wholly owned subsidiary of S&C client United Rentals, Inc., completed its previously announced acquisition of NES Rentals Holdings II, Inc. in an all-cash transaction valued at $965 million. The purchase price was funded through a combination of newly issued unsecured debt and available capacity on United Rental's ABL facility.
The acquisition increases United Rentals' density in strategically important markets, including the East Coast, Gulf States and the Midwest, and will strengthen United Rentals's relationships with local and strategic accounts in the construction and industrial sectors.
The S&C team representing United Rentals was led by Frank Aquila, along with Julia Kim and Amanda Gill. Neal McKnight, John Anselmi and Joyce Kwok advised on financing matters; Heather Coleman and Amanda Toy advised on executive compensation and benefits matters; Ronald Creamer advised on tax matters; Joshua Steinberger advised on intellectual property matters; Steven Holley, Eric Queen and Clea McClellan advised on antitrust matters; and Matthew Brennan advised on environmental matters. Kristin Rulison provided valuable support.