Nesco Holdings Inc. (NYSE: NSCO) is buying Custom Truck One Source for $1.475 billion. Platinum Equity is investing $850 million in Nesco and will own a majority stake in the combined company. Energy Capital Partners, Capitol Investment and Blackstone will also own stakes.
Nesco and Custom Truck offer heavy equipment services including rental, sales and aftermarket parts and service across the telecom, rail and infrastructure sectors.
“We believe the new company will be distinctively well-positioned to take advantage of the anticipated growth in critical U.S. infrastructure efforts in energy, telecom and rail over the near term and beyond,” says Nesco CEO Mark Ein.