NESCO LLC, an equipment and service provider for the utility industry, has acquired V&H Leasing Services from material handling and truck equipment manufacturer V&H Inc.
The acquisition will fold V&H’s rail equipment rental business into NESCO’s newest division, NESCO Specialty Rentals, which was launched in January 2016 to offer equipment in the rail, lighting, sign, telecom and other specialized industries. The acquisition will make the NESCO Specialty Rentals rail fleet the second-largest serving the rail industry.
In addition, NESCO and V&H have entered into a new equipment supply and fleet services agreement. NESCO will gain the coverage of V&H’s service support and repair facilities, “ensuring customers that they will continue to get the service they have come to expect, while also expanding nationwide through NESCO’s large service footprint,” NESCO said. “V&H brings 50 years of rail industry upfitting (installation of auxiliary equipment) and service experience to this supply agreement.”
NESCO CEO Lee Jacobson said the acquisition of V&H’s rental business and equipment supply and service agreement “creates a fleet size that will allow us to address the rental needs of any customer in the industry, renting high quality equipment manufactured by V&H.”
Added NESCO Specialty Rentals President Tim Bryan, “The agreement allows us to continue to partner with V&H as our upfitter and service provider while we focus our efforts to grow our rental business. This provides us with a great advantage as it will increase our national footprint with quality equipment and best-in-class service.”
V&H Inc. President Terry Frankland said V&H “looks forward to a long-term partnership with a company like NESCO to help grow our businesses together.”
NESCO Specialty Rentals, a division of NESCO Rentals, specializes in the rail, lighting, sign and telecom industries through service and rental divisions located in the U.S., Canada and Mexico. NESCO Rentals is an equipment and service provider for the utility industry, providing aerial devices, boom trucks and cranes, diggers, pressure drills, stringing gear, repair parts, tools and accessories. NESCO maintains one of the industry’s largest rental fleets and service networks in the U.S.
V&H Inc. is a material handling truck equipment manufacturer that specializes in building heavy-duty vocational trucks for the building products, railroad and commercial markets. With four facilities in the U.S., the company’s product line includes cranes, dumps, loaders, tanks and a variety of commercial truck body equipment.