NES Rentals Invests $150 Million in Rental Fleet, <br>Acquires Boston-Based Rental Business

May 11, 2005 — In the last 18 months, Chicago-based NES Rentals has invested more than $150 million in new rental equipment. The company's rental fleet purchases have been climbing over the past several years with major investments in all core rental products, including boom lifts, scissor lifts, rough terrain forklifts, earthmoving equipment, cranes, mobile liquid/solid storage containers, material handling equipment, compressors, generators, traffic safety equipment, and specialty construction and industrial materials.

“We continue to see steady recovery in our industry as the construction and industrial sectors improve,” said NES Rentals President and Chief Executive Officer Andrew Studdert. “Even as the economy continues to progress, companies have discovered that they can operate more cost effectively with less investment in capital equipment that isn't utilized a high percentage of the time. As companies determine their capital spending strategy, many are finding that renting equipment saves capital that can be used to build their core business. The equipment we've added will allow NES Rentals to continue to service our customer's increasingly diverse and growing needs.”

In other news, the company also announced the acquisition of a Boston-area traffic control equipment rental business from United Rentals. The Kingston, Mass., branch of United Rentals' Highway Technologies division provides traffic control equipment and services used during highway and other construction projects. The branch will become part of NES Rentals' Traffic Safety northeast district, headquartered in nearby Avon, Mass.

According to Robert Toomey, vice president for NES traffic safety, the move will double the company's capability in New England, allowing it to compete for a greater number of traffic control projects in the region.