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Latham & Watkins Advises Nesco Holdings in US$1.475 Billion Acquisition of Custom Truck One Source and its Partnership with Platinum Equity

December 3, 2020
A corporate team advises the specialty equipment rental provider in the transaction.

Nesco Holdings, Inc. (Nesco) has announced it has entered into a definitive agreement to acquire Custom Truck One Source (CTOS) for a purchase price of US$1.475 billion. Nesco and CTOS are leading providers of specialized truck and heavy equipment solutions including rental, sales and aftermarket parts and service. In connection with the transaction, an affiliate of Platinum Equity, LLC has committed to invest over US$850 million into Nesco in exchange for newly issued common stock at a price of US$5.00 per share. 

Latham & Watkins LLP represents Nesco Holdings in the transaction with a corporate team led by Washington, D.C. partners Paul Sheridan and David Brown and Chicago partner Bradley Faris, with Washington, D.C. counsel Rohith Parasuraman, Chicago associate Daniel Breslin and Washington, D.C. associate Sarah Kang. Advice was also provided on capital markets matters by Washington, D.C. partners Patrick Shannon and Shagufa Hossain and Washington, D.C. associate Samuel Rettew; on finance matters by Washington, D.C. partner Scott Forchheimer, with Washington, D.C. associate Melissa Fabian; on tax matters by New York partner Lisa Watts, with New York associate Alan Kimball; on employee benefits matters by Washington, D.C. partners Adam Kestenbaum and Matthew Conway; and on antitrust matters by Washington, D.C. partner Mandy Reeves.