This post was originally published on this site
The company, which rents out industrial equipment such as vertical lifts, portable generators and mini-excavators, expects to fund the deal with a mix of newly issued debt and existing capacity under its Asset-Based Loan (ABL) facility.
Ahern was founded in 1953 and is a family-owned equipment rental firm with about 2,100 employees. It operates across 106 locations in 30 U.S. states, with a rental fleet that consists of aerial lifts.
The deal is expected to close before year-end and will generate about $40 million of annualized cost synergies within the first 12 to 18 months of closing.
Sullivan & Cromwell LLP acted as legal advisor to United.
