Nesco, a company backed by private equity firm Hammond Kennedy Whitney & Co., has acquired a portion of Terex Utilities’ rental fleet of bucket trucks and digger derricks. Nesco is based in Bluffton, Indiana. Hammond Kennedy Whitney & Co. is based in Indianapolis and has offices in New York. Terms of the deal were not released.
Hammond, Kennedy, Whitney & Company, Inc. (“HKW”) announced that one of its portfolio companies, Nesco, LLC (“Nesco”), has closed on the acquisition of a portion of Terex Utilities’ (“Terex”) rental fleet. The rental fleet is located in the western region of the U.S. and consists of Terex manufactured bucket trucks and digger derricks.
“This acquisition represents a significant western expansion of our national footprint”, said Rob Troxel, CEO of Nesco. “It accomplishes one of our strategic goals as we strive to better serve our existing customers and reach out to new customers”.
About Nesco – Nesco provides specialized equipment for sale or rent to the electric and telecom utility industries. Nesco, headquartered in Bluffton, IN, has been a portfolio company of HKW Capital Partners III, L.P., since August 2007. For further information on Nesco, please visit www.nescosales.com.
About HKW – HKW is a private equity firm founded in 1903 and headquartered in Indianapolis, Indiana with an office in New York. Over the past 28 years, HKW has sponsored 39 platform management buyouts of small middle-market companies throughout North America as well as 38 add-on acquisitions. For further information on HKW, please visit www.hkwinc.com.
About Terex – Terex Corporation is a diversified global manufacturer operating in four business segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes, and Terex Materials Processing. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, mining, shipping, transportation, energy, refining, and utility industries. For further information on Terex, please visit www.terex.com.