NESCO Buys Penske Utility Truck Rental Business

Nesco Sales and Rentals, Bluffton, Ind., has acquired the Penske Utility Rentals fleet. The purchase will strengthen Nesco’s East Coast and Mid-Atlantic presence and give customers access to more than 2,500 units plus a nationwide parts and service network.

The Penske Truck Rental website shows that its fleet includes bucket trucks with working heights from 29 ft. to 119 ft. and digger derricks from 45 ft. to 60 ft.

“Acquiring these assets further broadens Nesco’s fleet offering and expands our ability to service our customer’s equipment needs nationwide,” said Lee Jacobson, Nesco's CEO. “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 growth. We will continue investing in the breadth and quality of our fleet.”

Louis Samson, the Platinum Equity partner who led the firm’s acquisition of Nesco and has been working with Nesco on its mergers and acquisitions strategy, said today’s announcement “represents another step forward in Platinum Equity's efforts to support Nesco's overall growth.