Diamond Castle flies away with $965M in rental exit
January 27, 2017
Commercial Products | Chicago, IL | Acquisition
Diamond Castle has agreed to sell NES Rentals, a provider of aerial equipment rentals, to United Rentals (NYSE: URI) for $965 million in cash. The deal represents a 4.9x EBITDA multiple and a 4.3x adjusted purchase multiple. Diamond Castle bought NES for $850 million in 2006.