Nesco plans to use ABL facility to fund Truck Utilities acquisition

By Sarah Lizee

Olympia, Wash., Sept. 23 – Nesco Holdings, Inc. plans to use its $350 million asset-based credit facility to finance its planned $42.2 million acquisition of Truck Utilities, Inc., according to a press release.

Nesco said the transaction is expected to improve its leverage metrics on a pro forma basis, including anticipated synergies.

The transaction is subject to customary closing conditions. Closing is expected during the fourth quarter of 2019.

Nesco is a provider of specialty rental equipment to the electric utility, telecom and rail end-markets. Truck Utilities is a St. Paul-based specialty rentals, service and truck upfitting company.

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