NESCO Sales & Rentals Acquires Utility Equipment Leasing Corporation (UELC)
NESCO Sales and Rentals is proud to announce the acquisition of Utility Equipment Leasing Corporation (UELC) based in Waukesha, Wisconsin on December 21, 2012. The purchase combines the number two and number three utility equipment rental companies in North America, supporting NESCO’s commitments to growth and best in class service.
The UELC fleet adds over 500 bucket trucks and digger derricks to strengthen NESCO’s nationwide capabilities. Customers will benefit from access to more than 3,000 pieces of equipment, plus a nationwide parts and service network. UELC’s service centers in Waukesha, Wisconsin, Fort Worth, Texas, and Ontario, California mean increased service locations to keep customers working.
“Acquiring UELC further broadens NESCO’s fleet offering and expands our customer base and ability to service our customer’s equipment needs nationwide,” said Lee Jacobson, NESCO’s Chief Executive Officer. “The acquisition solidifies our position as one of the premier service and equipment providers in the utility and telecommunications rental markets, and demonstrates NESCO and Platinum Equity’s commitment to strategic consolidation.”
Louis Samson, the Platinum Equity partner who led the firm’s acquisition of NESCO, said “today’s announcement represents another step forward in Platinum Equity’s efforts to support NESCO’s overall growth strategy.” “NESCO and UELC are complementary businesses with compelling synergies and we are excited about the prospect of bringing them together.”
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