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NES Rentals Shareholders Approve Sale

Jun 26, 2006 10:31 AM

A majority of NES Rentals Holdings Inc. shareholders approved Friday the company’s acquisition by affiliates of private equity firm Diamond Castle Holdings LLC.

The vote follows last month’s announcement of a definitive agreement for affiliates of Diamond Castle to acquire NES in a transaction valued at about $850 million including the assumption of liabilities.

Completion of the sale is contingent on customary closing conditions.

NES Rentals announced a review of strategic alternatives in December 2005. The Chicago-based company is No. 7 on the RER 100.

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