Business Services Industry
Odyssey Investment Partners Acquires Tank Rental Division of NES Rentals
Business Wire, April 9, 2007
Business Renamed Evergreen Tank Solutions, Inc.
NEW YORK -- Odyssey Investment Partners, LLC today announced that it has acquired the Tank Rental division of NES Rentals Holdings, Inc. for approximately $196 million.
The business, which has been renamed Evergreen Tank Solutions, Inc., is a market leader in the temporary liquid and solid storage containment industry. It operates thirteen branch locations and a fleet of approximately 6,200 units.
Randy Paulson, a Managing Principal of Odyssey, said: "We are pleased to acquire this market-leading business serving the growing petrochemical, natural gas production and environmental waste services industries. Under the continued leadership of CEO Jeff Havens, who ran the business under NES, we expect that Evergreen will achieve continued success."
Mr. Havens added: "This transaction is a great opportunity for our business. With Odyssey as our partner, we will be well positioned for growth while continuing to provide our customers with the highest quality container fleet and outstanding customer service."
Odyssey has extensive experience investing in both industrial manufacturing and localized service businesses. Evergreen is Odyssey's fifth platform in the equipment management sector. The firm's current and former portfolio includes Neff Corp., a leading construction and industrial equipment rental company; Williams Scotsman Inc., a leading lessor of mobile office and storage units; United Site Services, Inc., a leading provider of portable restroom services; and Dayton Superior Corporation, a leading renter of concrete forming and shoring equipment.
About Odyssey Investment Partners
Odyssey Investment Partners, LLC, based in New York, is a leading middle-market private equity fund with more than $1.2 billion under management. Odyssey makes majority, control investments primarily in established middle-market companies in a variety of industries, including industrial manufacturing, business, financial and healthcare services, aerospace products, and localized and route-based service businesses. For further information about Odyssey, please visit www.odysseyinvestment.com.
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