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.