Neff Corp. Stockholders Approve Acquisition of Company by Odyssey Investment Partners
Wednesday May 11, 6:27 pm ET
MIAMI--(BUSINESS WIRE)--May 11, 2005--Neff Corp. (OTC:NFFCA - News; "Neff"), a leading construction and industrial equipment rental company, announced today that its stockholders approved the acquisition of Neff Corp. by an affiliate of Odyssey Investment Partners, LLC ("Odyssey"), 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.
About Neff Corp.
Neff Corp. is one of the nation's largest construction and industrial equipment rental companies. The company's primary focus is in ground-engaging equipment and its fleet is comprised of the latest earth-moving equipment, compressors, generators and lifts from leading manufacturers. The company operates through its network of branches located in the Southeastern, Mid-Atlantic, Central and Western regions of the United States.
About Odyssey Investment Partners
Odyssey Investment Partners LLC, based in New York, is a leading middle-market private equity firm with more than $1.2 billion under management. Portfolio companies include United Site Services, Inc., Williams Scotsman, Inc., Dayton Superior Corporation, Pro Mach, Inc., Aviation Technologies, Inc., Dresser, Inc. and US Unwired, Inc. For more information about Odyssey, please visit odysseyinvestment.com. |
