| Ticker: | PRS | 16225 Park Ten Place, Suite 200 | |
| Exchange: | New York Stock Exchange | Houston, Texas 77084 | |
| Industry: | Service | (713) 578-5600 |
| Type of Shares: | Common Shares | Filing Date: | 9/6/96 | |
| U.S. Shares: | 5,800,000 | Offer Date: | 10/31/96 | |
| Non-U.S. Shares: | 1,450,000 | Filing Range: | $22.00 - $25.00 | |
| Primary Shares: | 7,250,000 | Offer Price: | $23.50 | |
| Secondary Shares: | 0 | Gross Spread: | $1.52 | |
| Offering Amount: | $170,375,000 | Selling: | $0.90 | |
| Expenses: | $2,153,000 | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Salomon Brothers Inc. | Co-manager | (212) 783-2947 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $242.79 | $153.46 | $115.36 | Assets: | $493.98 |
| Net Income: | -$8.66 | $3.14 | -$3.83 | Liabilities: | $420.47 |
| EPS: | Equity: | $73.51 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is the second largest rental equipment company in the United States, based upon 1995 rental equipment revenues, and currently operates 101 rental equipment yards in 13 states. The company rents over 100 different types of equipment, such as aerial manlifts, portable air compressors, forklifts and light earth moving equipment and small equipment such as lawnmowers, plumbing equipment and hand tools, to commercial construction, industrial and residential users. The company also sells complementary parts and merchandise and used equipment, and acts as a distributors of new equipment on behalf of nationally known equipment manufacturers. At July 31, 1996, the company had an equipment rental fleet with a book value of $245.7 million comprised of over 40,000 pieces of equipment. Over the period from 1991 to 1995, Prime's total revenues increased from $146.2 million to $242.8 million, a compound annual growth rate of $13.5%. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to reduce outstanding indebtedness of the company. |
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