Capitol IV
In April 2021, Nesco acquired Custom One Truck Source, another provider specialty rental and sales equipment to similar end markets, for approximately $1.5 billion. The transformative transaction was initiated and orchestrated by Mark Ein through deep collaboration with his relationships at Platinum Equity as well as Blackstone. As part of the transaction, Platinum Equity invested nearly $750 million into Nesco and blue-chip PIPE investors invested another $140 million. Nesco investors rolled their entire stake and Blackstone, the previous owner of Custom Truck, rolled a meaningful investment as well. The combination creates a leading, one-stop-shop provider of specialty rental equipment, serving highly attractive and growing infrastructure end markets.
Nesco changed its name to Custom Truck One Source as part of the acquisition and trades on the NYSE under the symbol “CTOS”. Mark Ein continues to serve as a Director of Custom Truck One Source.
Announcement Press Release | Investor Presentation | Closing Press Release
Mr. Calcano has served as a member of our Board of Directors since December 2018. Mr. Calcano is the Chairman and Chief Executive Officer of Institutional Capital Network, Inc. (or iCapital Network). Mr. Calcano began working with iCapital shortly after its 2013 founding to lead key strategic and business development initiatives. iCapital is a technology platform for the alternative investment marketplace that currently has about $63 billion of assets operated and managed on its platform. Throughout Mr. Calcano’s tenure, iCapital has completed seven acquisitions and has also grown significantly on an organic basis. Mr. Calcano has a long affiliation with the Capitol team. From September 2007 until its merger with Two Harbors in October 2009, Mr. Calcano served as a member of the Board of Directors of Capitol I. From March 2013 until its merger with Lindblad Expeditions, Mr. Calcano also served as a member of the Board of Directors of Capitol II. From September 2015 until its merger with Cision in June 2017, Mr. Calcano also served as a member of the Board of Directors of Capitol III. From June 2017 until its merger with Nesco, Mr. Calcano served as a member of the Board of Directors of Capitol IV. From 1990 to June 2006, Mr. Calcano was affiliated with Goldman, Sachs & Co., most recently serving as the co-head of the Global Technology Banking Group of the Investment Banking Division, prior to which he headed the firm’s east coast technology group and was the co-Chief Operating Officer of the High Technology Department. From 1985 to 1988, Mr. Calcano was an analyst at Morgan Stanley. Mr. Calcano was named to the Forbes Midas List of the most influential people in venture capital in 2001 (the inaugural year), 2002, 2004, 2005 and 2006. Mr. Calcano received a B.A. from College of the Holy Cross, and attended the Amos Tuck School of Business at Dartmouth College from 1988 to 1990, graduating as a Tuck Scholar.