Private equity interest in Ahern Rentals
By Murray Pollok26 March 2012
Press reports in the US suggest that private equity firm Platinum Equity, founded by Tom Gores, wants to take ownership of Ahern Rentals, the Las Vegas based rental company that is currently going through Chapter 11 bankruptcy proceedings.
Platinum Equity has some debt in Ahern Rentals and Bloomberg reported that the firm could try to use its stake to take the business over.
Platinum already operates in the equipment rental sector in North America, owning both Maxim Crane Works and NESCO, the utility lift rental firm.
Ahern Rentals filed for bankruptcy in December last year and has until April to present a restructuring plan to the courts. It has debts of more than US$600 million.