United Rentals NES Rentals Acquisition 2017

United Rentals presented its $965 million acquisition of NES Rentals, a leading U.S. aerial-focused equipment rental provider with 2016E revenue of $369M. The transaction targets $40M in annual cost synergies and $35M in revenue cross-sell opportunities, with pro forma net leverage below 3.0X and immediate EPS accretion expected.