Baird's Investment Banking Group is pleased to announce the following transaction:

Date:
November 2021
Company:
Custom Truck One Source, Inc.
Description:
Follow-On Offering
Sector(s):
Industrial
Baird served as a bookrunner on this offering
$104.700 Million

Custom Truck One Source, Inc. (“Custom Truck One Source” or the “Company”) (NYSE: CTOS), a portfolio company of The Blackstone Group Inc. (“Blackstone”) and Platinum Equity Advisors, LLC (“Platinum”), recently completed a secondary offering of 12,322,975 common shares at a price to the public of $8.50 per share. Affiliates of Blackstone received all of the net proceeds from the offering.

Custom Truck One Source is a specialty equipment provider to the electric utility transmission and distribution, telecommunications, rail and other infrastructure related industries in North America. The Company’s core business relates to new equipment inventory and a rental fleet of specialty equipment utilized by service providers in infrastructure development and improvement work. Custom Truck One Source offers specialized equipment to a diverse customer base, including utilities and contractors, for the maintenance, repair, upgrade and installation of critical infrastructure assets. These assets include distribution and transmission electric lines, telecommunications networks, rail systems and lighting and signage. The Company rents, produces, sells and services a broad range of new and used equipment, including bucket trucks, digger derricks, dump trucks, cranes, service trucks and heavy-haul trailers. Custom Truck One Source is headquartered in Kansas City, Missouri.

Blackstone is the world’s largest alternative asset manager. It seeks to create positive economic impact and long-term value for its investors, the companies it invests in and the communities in which it works. Blackstone does this by using extraordinary people and flexible capital to help companies solve problems. Its $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Blackstone is headquartered in New York, New York.

Founded in 1965, Platinum is a global investment firm with more than $25 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. Platinum specializes in mergers, acquisitions and operations, acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 25 years, Platinum has completed more than 300 acquisitions. Platinum is headquartered in Los Angeles, California.

For additional information about this transaction, please contact:

Mike Lindemann +1-414-298-7408
Steve Guy +1-414-765-7247
Justin Holsen +1-414-298-7768
John Moriarty +1-303-270-6325
Tom Lacy +1-414-298-7648
Travis Waller +1-312-609-5451