| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Neff Corp. |
| 3750 N.W. 87th Avenue, Miami, FL 33178 * (305) 513-3350 |
| The Company rents a wide variety of equipment, including backhoes, air compressors, loaders, lifts and compaction equipment to construction and industrial customers. |
| Manager | Tier | Phone |
| Morgan Stanley Dean Witter Discover & Co. | Lead Manager | (212) 761-5900 |
| BT Alex Brown | Co-manager | (410) 727-1700 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| NYSE: | NFF | Service: | SIC 7353 | |
| Type of Shares: | Class A Common Shares | Filing Date: | 3/17/98 | |
| U.S. Shares: | 6,700,000 | Offer Date: | 5/21/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 6,700,000 | Offer Price: | $14.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.96 | |
| Offering Amount: | $100,500,000 | Selling: | $0.56 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Post-IPO Shares: | 21,200,000 | |||
| Employees: | 1100 |
| Issuer's Law Firm: | Fried, Frank, Harris, Shriver & Jacobson |
| Bank's Law Firm: | Cahill Gordon & Reindel |
| Registrar/Transfer Agent: | First Union National Bank North Carolina |
| Auditor: | Arthur Andersen |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/97 | 12/31/97 | ||||
| Revenue: | $142.02 | Assets: | $280.79 | ||
| Net Income: | -$6.84 | Curr Assets: | |||
| EPS: | -$1.69 | Liabilities: | $251.78 | ||
| Prior EPS: | -$0.66 | Curr Liab: | |||
| Cash Flow/Oper: | $9.41 | Equity: | $29.01 | ||
| Cash Flow/Fin: | $162.26 | Cash: | $2.88 | ||
| Cash Flow/Inv: | -$173.77 | ||||
| Competition |
| The equipment rental and sales industries are highly competitive. The Company's competitors include large national rental companies, regional corporations, smaller independent businesses, and equipment vendors and dealers who both sell and rent equipment to customers. Some of the Company's competitors have greater financial resources, are more geographically diverse, and have greater name recognition than the Company. There can be no assurance that the Company will not encounter increased competition from existing competitors or new market entrants, such as manufacturers, that may be significantly larger and have greater financial and marketing resources than the Company. If existing or future competitors reduce prices to gain or retain market share and the Company must also reduce prices to remain competitive, the Company's operating results would be adversely affected. Additionally, existing or future competitors may seek to compete with the Company for start-up locations or acquisition candidates, which may have the effect of increasing acquisition prices and reducing the number of suitable acquisition candidates or expansion locations. |
| Business Plan |
| The Company's objective is to increase revenue, cash flow and profitability by building and maintaining a leading market position in the equipment rental industry. Key elements of the Company's growth strategy include: (I) Acquire Equipment Rental Companies, (ii) Increase Profitability of Recently Opened Rental Locations, (iii) Increase Fleet At Existing Locations and (iv) Selective Expansion of Dealership Operations. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the repayment of indebtedness. |