| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| National Equipment Services, Inc. |
| 1800 Sherman Avenue, Evanston, IL 60201 * (847) 733-1000 |
| The company is a leading participate in the growing and highly fragmented $18 billion rental industry. Through its 14 acquired businesses, NES specializes in the rental of specialty and general equipment to industrial and construction end-users. |
| Manager | Tier | Phone |
| Salomon Smith Barney | Lead Manager | (212) 723-7300 |
| CS First Boston | Co-manager | (212) 325-2000 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Nationsbanc Montgomery Securities, Inc. | Co-manager | (415) 627-2100 |
| William Blair & Company | Co-manager | (312) 364-8990 |
| NYSE: | NSV | Financial: | SIC 6719 | |
| Type of Shares: | Common Shares | Filing Date: | 4/2/98 | |
| U.S. Shares: | 7,000,000 | Offer Date: | 7/14/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 7,000,000 | Offer Price: | $13.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.94 | |
| Offering Amount: | $98,000,000 | Selling: | $0.55 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Post-IPO Shares: | 28,400,000 | |||
| Employees: | 1072 |
| Issuer's Law Firm: | Kirkland & Ellis |
| Bank's Law Firm: | Latham & Watkins |
| Auditor: | Price Waterhouse |
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: | $41.29 | Assets: | $131.14 | ||
| Net Income: | $1.11 | Curr Assets: | |||
| EPS: | Liabilities: | $104.66 | |||
| Prior EPS: | Curr Liab: | ||||
| Cash Flow/Oper: | $7.38 | Equity: | $26.47 | ||
| Cash Flow/Fin: | $109.79 | Cash: | $35.68 | ||
| Cash Flow/Inv: | -$81.50 | ||||
| Competition |
| The equipment rental industry is highly fragmented and competitive. The Company's competitors include: large national companies; regional competitors which operate in one or two states; small, independent businesses with one or two rental locations; 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 that may be significantly larger and have greater financial and marketing resources. In addition, to the extent existing or future competitors seek to gain or retain market share by reducing prices, the Company may be required to lower its prices and rates, thereby adversely affecting operating results. Existing or future competitors also may seek to compete with the Company for acquisitions, which could have the effect of increasing the price for acquisitions or reducing the number of suitable acquisitions. |
| Business Plan |
| The Company intends to attain its objective by continuing to execute the following growth strategy: (I) Acquire Specialty and General Equipment Rental Businesses, (ii) Increase Revenues from Industrial Customers, (iii) Maximize High-Margin Rental Revenues Through Efficient Fleet Management and (iv) Leverage New Remanufacturing Center. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund the acquisition of Falconite, repay indebtedness outstanding under the Credit Facility and fund the mandatory redemption. |