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MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  NESCO Ltd.    NESCO   INE317F01027

NESCO LTD. (NESCO)
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NESCO : Acquires Bethea Tool and Equipment, Expanding Product Portfolio

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11/03/2017 | 04:17am CEST

NESCO, a leading rental equipment and service provider for the utility, rail and communications industries, has acquired Bethea Tool and Equipment Co., a manufacturer of handline blocks, stringing blocks, bundle blocks and similar products used by electrical utilities and contractors worldwide for more than 50 years. The acquisition includes Bethea’s manufacturing facility and distribution center in Brighton, Tenn. The location provides 60,000 square feet of warehouse and service space.

Bethea Tool and Equipment Co. will become part of NESCO’s Utility Equipment Outfitters division, making UEO one of the largest providers of block rentals, as well as new and used parts, tools and accessories in North America.

“The acquisition of Bethea Tool and Equipment solidifies our position as the premier service and equipment provider in utility and specialty rental markets,” said Lee Jacobson, NESCO CEO. “This acquisition expands our product portfolio, increasing our flexibility in meeting the purchase and rental needs of customers seeking high quality products.”

NESCO created the UEO division three years ago to offer parts, tools and accessories to utility, rail, communication and other specialized industries. The acquisition of Bethea expands NESCO’s ability to offer highly engineered and custom-designed products. NESCO will continue to offer service, support, and repair of all Bethea Tool and Equipment products.

“Bethea Tool and Equipment customers will continue to get the service they have come to expect, while allowing us to expand availability nationwide through NESCO’s sales, service and supply network in North America,” said Kent Upton, president of Utility Equipment Outfitters.

“The Bethea organization is excited about our opportunity to become part of NESCO,” said Bobby Allen, president of Bethea Tool and Equipment. “We look forward to a bright and prosperous future with NESCO as a partner to help grow our business.”

NESCO, based in Fort Wayne, Ind., is No. 22 on the RER 100.

© 2017 Penton Media, source Trade Journals Open Web

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Financials (INR)
Sales 2019 3 268 M
EBIT 2019 1 359 M
Net income 2019 1 074 M
Debt 2019 -
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020
Capi. / Sales 2019 10,1x
Capi. / Sales 2020 7,71x
Capitalization 33 021 M
Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 679  INR
Spread / Average Target 45%
Managers
NameTitle
Krishna Sumant Patel Managing Director & Executive Director
Sumant Jethabhai Patel Executive Chairman
Dipesh R. Singhania Chief Financial Officer
K. S. Srinivasa Murthy Independent Non-Executive Director
Mahendra Kumar Chouhan Independent Non-Executive Director
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