NES buys aerials renter in Chattanooga, Tennessee
02 November 2010
NES Rentals has signed a letter of intent to acquire Ballard Equipment in Chattanooga, Tennessee, an aerial platform rental firm with 11 employees and 300 pieces of equipment.
The company founder Jim Ballard will stay with the business and manage rental and sales at the Chattanooga location.
Andrew Studdert, NES Rentals chairman and chief executive officer, said; "We believe that Jim Ballard and his team have built and operated a very successful aerial rental business in southeast Tennessee. The location, customer base, employees and company culture is a perfect fit for NES". The deal is expected to close before the end of 2010.
Chris Bowers, NES senior vice president, told IRN that the worst of the recession was behind it; "Clearly we would like to see the economy improving in our space faster than it is, and 2011 is going to be challenging. [But] units on rent are improving and rates are improving. We continue to be cautiously optimistic."
Based in Chicago, NES Rentals has 70 rental locations in 27 states.