A majority of NES Rentals Holdings Inc. shareholders approved Friday the company’s acquisition by affiliates of private equity firm Diamond Castle Holdings LLC.
The vote follows last month’s announcement of a definitive agreement for affiliates of Diamond Castle to acquire NES in a transaction valued at about $850 million including the assumption of liabilities.
Completion of the sale is contingent on customary closing conditions.NES Rentals announced a review of strategic alternatives in December 2005. The Chicago-based company is No. 7 on the RER 100.