Neff Rental to launch IPO

US equipment rental company Neff Rental said it planned to raise around US$100 million (€76 million) through an initial public offering (IPO) of its class A common stock.

In a filing with the US Securities and Exchange Commission, the company said it intended to list the stock under the symbol NEFF, without stating which exchange it would use; how many shares it planned to sell or the expected price. The final size of the IPO could be different.

In its IPO prospectus, Neff Rental said it believed the shift from owning to renting equipment in North America would continue, resulting in increased penetration rates in the future.

In October 2010, the company emerged from Chapter 11 after completing a financial restructuring with private equity partner Wayzata Investment Partners. Neff filed for Chapter 11 protection on 16 May 16, 2010.