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Wayzata-owned Neff Corp. goes public

Neff Corp., a regional equipment rental firm, has debuted its IPO after pricing its over 10 million shares at $15 per share. The stock began trading Friday on the NYSE under the ticker symbol “NEFF.” Morgan Stanley, Jefferies, Piper Jaffray and Merrill Lynch, Pierce, Fenner & Smith are the lead underwriters. Neff filed for bankruptcy in May 2010 and emerged from Chapter 11 a few months later. It was later acquired by Wayzata Investment Partners.

PRESS RELEASE

MIAMI–(BUSINESS WIRE)– Neff Corporation announced today the pricing of its initial public offering of 10,476,190 shares of its Class A common stock (the “common stock”) at a price to the public of $15.00 per share. In addition, Neff Corporation has granted the underwriters a 30-day option to purchase up to 1,571,428 additional shares of common stock from Neff Corporation at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on The New York Stock Exchange on November 21, 2014 under the symbol “NEFF.”

Morgan Stanley & Co. LLC, Jefferies LLC, Piper Jaffray & Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers for the offering. Wells Fargo Securities, LLC is acting as co-manager for the offering.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. The offering will be made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained, when available, from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Neff Corporation
Neff Corporation is a leading regional equipment rental company in the United States, focused on the fast-growing Sunbelt states. The company offers a broad array of equipment rental solutions for its diverse customer base, including non-residential construction, oil and gas and residential construction customers. Neff Corporation’s broad fleet of equipment includes earthmoving, material handling, aerial and other rental equipment to meet specific customer needs.