21.12.2010

Terex Utilities sells fleet

Terex Utilities has sold off the Western US based part of its bucket truck /digger derrick rental fleet to Bluffton, Indiana based Nesco.

Nesco is owned by private equity firm Hammond Kennedy Whitney & Co of Indianapolis and New York, terms of the deal have not been released.

Nesco provides specialised equipment, such as truck mounted aerial lifts, boom trucks and digger derricks for sale or rent to the electric and telecom utility sector. It has been a ‘portfolio company’ of HKW Capital Partners III, since August 2007.
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A Terex Utilities lift mounted on a Prinoth tracked carrier.

Nesco chief executive Rob Troxel said: “This acquisition represents a significant western expansion of our national footprint. It accomplishes one of our strategic goals as we strive to better serve our existing customers and reach out to new customers”.