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NES Rentals history
NES Rentals company history timeline
The youngest, Spintank, had been in business for nine years, while the oldest, BAT Rentals, had been in operation since 1960.
Thoma provided the financial backing through Golder, Thoma, Cressey, Rauner, Inc., a Chicago-based investment firm that was formed in 1980 and became instrumental in industry consolidation ventures.
The two men primarily responsible for the creation of NES in 1996 were Carl Thoma and Kevin Rodgers.
NES made just four purchases in 2000, in March adding a pair: Cassidy & Lee, Inc., a Northeast earth-moving equipment firm, and Road Light, Inc. and Interstate Sign, Inc., providers of highway safety equipment to the East Coast.
A top rental company, NationsRent, with annual revenues of some $600 million, filed for Chapter 11 bankruptcy in December 2001, and the rest of the so-called recession-proof industry also showed signs of strain.
Nevertheless, it still found the resources to acquire Brambles' United States rental business for $122 million in January 2002.
2003: Kevin Rodgers resigns as CEO.
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