MIAMI — Neff Corp. recently announced that its stockholders approved the acquisition of Neff Corp. by an affiliate of Odyssey Investment Partners, LLC, at a special meeting of Neff's stockholders held on May 10, 2005. The transaction is valued at $510 million, including the refinancing of Neff's debt. Completion of the acquisition, which is expected to occur within the next several weeks, is subject to completion of financing for the transaction and customary closing conditions.
Miami-based Neff Corp. is No. 9 on the RER 100. Its primary focus is in ground-engaging equipment and its fleet is comprised of earth-moving equipment, compressors, generators and lifts. The company operates through its network of branches located in the Southeastern, Mid-Atlantic, Central and Western regions of the United States.
Odyssey Investment Partners LLC, based in New York, is a middle-market private equity firm with more than $1.2 billion under management.
