Utility One Source Announces Partnership with TNT Equipment

Kansas City, Missouri and Cinnaminson, New Jersey, July 23rd, 2015. Utility One Source (“UOS”) today announced a partnership with TNT Equipment, a leading provider of specialty equipment and services to the hi-rail and utility industries. Based in Cinnaminson, New Jersey, TNT will remain a family-owned and operated business led by the Reilly family, who will continue to manage and to grow the business as part of Utility One Source. Utility One Source, founded by private equity funds managed by Blackstone earlier this year, is a single-source supplier for the utility and heavy equipment industries with a focus on sales, rental, equipment customization, remanufacturing and installation, and aftermarket services.

“I am delighted to welcome TNT aboard,” said Utility One Source Chairman Chris Ragot. “TNT is a great fit with our growth strategy and we are excited to expand our geographic footprint to the Northeast, as well as to increase our product offerings to include hi-rail. This addition to the Utility One Source family demonstrates our continued commitment to becoming the leading provider of solutions to the heavy equipment and utility industries.”

TNT’s president, Tom Reilly III, said, “We are thrilled to join Utility One Source. We are excited about the opportunity to be a part of Utility One Source’s growth and contribute our expertise in hi-rail and utility equipment on which TNT has built its reputation.”

The addition of TNT Equipment marks the fifth acquisition under the Utility One Source brand since its formation in February 2015, and is validation of its pledge to build a nation-wide footprint and a comprehensive breadth of product offerings. Funds managed by Blackstone will continue to provide significant growth capital for additional investment in equipment, innovation and an expanded geographic footprint, which will ensure Utility One Source has the customer-focused solutions that the industry requires.

About TNT Equipment
TNT Equipment specializes in the design, remanufacturing, and customization of hi-rail and utility solutions to improve the versatility of their machinery and advance equipment standards in the industry. They offer a diverse selection of Bucket Trucks, Digger Derricks, Cranes, Grapples, Lifts and Trailers, and more.

About Utility One Source
Utility One Source is comprised of five family-owned and operated businesses: Custom Truck & Equipment, Utility Fleet Sales, Forestry Equipment of Virginia (FEVA), UCO Equipment, and now TNT Equipment. The partnership, with a combined 17 locations nationwide will collectively offer sales, rentals, parts and aftermarket services, remanufacturing, customized equipment and transportation.  Utility One Source will build upon the market positions of each company, while serving as a single source supplier for the utility and heavy equipment industries.

About Blackstone
Blackstone Energy Partners is Blackstone’s energy-focused private equity business, with a successful record built on Blackstone’s industry expertise and partnerships with exceptional management teams. Blackstone has invested over $8 billion of equity globally across a broad range of sectors within the energy industry.

Blackstone is one of the world’s leading investment firms.  We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work.  We do this by using extraordinary people and flexible capital to help companies solve problems.  Our asset management businesses, with over $330 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets, and secondary funds, all on a global basis.  Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory, and fund placement services. Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.

For further information:
Liza Rauch
Blackstone
(212) 583-5263
Liza.Rauch@Blackstone.com

 

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Jason Zenker Joins Utility One Source

Jason brings to UOS considerable Sales and Executive leadership experience from the Utility and Construction spaces. Jason has worked among all the Sales Divisions of Terex, from small contractors to major strategic customers. He has been involved in product configuration, training, design and final stage manufacturing, with an emphasis on truck mounted Utility Equipment. Most recently, Jason was Director of Strategic Accounts at Sherman-Reilly, and before that, Director of Utility Markets at Iron Planet Auctions. Earlier he served as VP of Sales for American Truck and Trailer in California. At Terex Jason lead PG&E to purchase hundreds of aerials, cranes and diggers through the development of Terex’s first single piece flow line for installation.

“I am very happy to be joining the Utility One Source team in the West.” said Jason. “I’ve worked with many of you already on the UOS team in the past, it’s good to be with you again, it’s clear that this is a solid team in the field and in leadership. The unique UOS value proposition will ring very loudly in California and in the West, among all the industry segments we represents for clients. Clients are hungry for customer-centric suppliers with expertise and a commitment to them. The competition is in for a real surprise.”

Click here to learn more about Utility One Source.

Jason Zenker

Jason Zenker

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Utility One Source Announces Partnership with UCO Equipment

Kansas City, Missouri and Cabot, Arkansas, April 27, 2015 – Utility One Source today announced a partnership with UCO Equipment (“UCO”), a provider of specialty equipment and services to the utility, power and oil & gas sectors. Based in Cabot, Arkansas, UCO will continue to be a family-owned and operated business. UCO’s existing management team, led by Rhonda and Jim Usery, will continue to lead and to grow the business as part of Utility One Source. Utility One Source, founded by private equity funds managed by Blackstone earlier this year, is a single-source supplier for the utility and heavy equipment industries with a focus on sales, rental, parts and aftermarket services, remanufacturing, customized equipment and transportation nationwide.

“We are pleased to welcome UCO’s management team and its highly-skilled and dedicated employees to the Utility One Source family,” said Utility One Source Chairman Chris Ragot. “UCO is a great fit with our growth strategy and we are excited to expand our geographic footprint in both Arkansas and the greater Houston area as well as to increase our product offerings. We look forward to working with UCO in the years ahead, as we continue to grow to become the largest supplier in the utility and heavy equipment industries.”

UCO’s president and CEO, Rhonda Usery said, “UCO is very excited to join UOS.  We look forward to using our unique track-based equipment experience to grow Utility One Source, and to better serve our customers nationwide.”

UCO represents the first acquisition by Utility One Source since its formation in February 2015 and demonstrates its commitment to a national infrastructure and breadth of product offerings. Funds managed by Blackstone will continue to provide growth capital for significant additional investment in equipment, innovation and an expanded geographic footprint, which will ensure Utility One Source has the customer-focused solutions the industry requires.

About UCO Equipment:
UCO Equipment provides “specialty equipment and services” to the utility, power, construction, water, oil & gas energy sectors.  UCO specializes in the design and fabrication of pipeline and powerline solutions to improve the production and safety of our customers.  Offering a variety of Crawler Carriers, from basic dump/flat beds to the finest quality Digger Derricks, Buckets, Environmental Solutions and ROPS Certified Personnel Carriers, UCO provides machines that are able to perform in various types of terrain and weather.

About Utility One Source:
Utility One Source is comprised of four family-owned and operated businesses: Custom Truck & Equipment, Utility Fleet Sales, Forestry Equipment of Virginia (FEVA) and UCO Equipment.  The partnership, with a combined 14 locations nationwide will collectively offer sales, rentals, parts and aftermarket services, remanufacturing, customized equipment and transportation.  Utility One Source will build upon the market positions of each company, while serving as a single source supplier for the utility and heavy equipment industries.

About Blackstone:
Blackstone Energy Partners is Blackstone’s energy-focused private equity business, with a successful record built on Blackstone’s industry expertise and partnerships with exceptional management teams. Blackstone has invested approximately $8 billion of equity globally across a broad range of sectors within the energy industry.

Blackstone is one of the world’s leading investment firms.  We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work.  We do this by using extraordinary people and flexible capital to help companies solve problems.  Our asset management businesses, with over $300 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets, and secondary funds, all on a global basis.  Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory, and fund placement services.

Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.

For further information:
Liza Rauch
Blackstone
(212) 583-5263
Liza.Rauch@Blackstone.com

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Former NESCO Employees Join Utility Fleet Team

Greg Sovine – Inside Rental Manager

Greg Sovine – Inside Rental Manager

Greg Sovine

Greg’s career spans over 7 years in the Electric Utility Industry. Before joining Utility Fleet, Greg served as Inside Sales Representative and most recently as Inside Sales Manager for NESCO Rentals. As Inside Sales Representative, Greg served clients in the Gulf, Southeast, and Mid-Atlantic States. As Inside Sales Manager, Greg oversaw the Inside Sales staff serving the entire United States, encompassing 7 Inside Sales Representatives serving 12 Territory Managers. Prior to joining NESCO, Greg served as Outside Sales Representative for Homier Distributing, setting up a dealer network for compact utility tractors throughout the US.

“I look forward to using my skills and experience to further the efficiency and customer-oriented goals of Utility Fleet. The success of any organization is dependent upon determining and meeting customer needs. A fundamental part of meeting those needs is the work that is done behind the scenes. I look forward to building an iron-clad team that meets customer needs in both a timely and professional manner.”

Brandie Cotton – Rental Coordinator / Canadian Account Manager

Brandie Cotton - Rental Coordinator

Brandie Cotton

Brandie joins the Utility fleet Rental team bringing with her 11 years of experience in Utility Rentals and Sales. Brandie started her Utility Industry career in 2003 with NESCO Rentals servicing the Midwest as well as the Canadian Rental Market. Her focus on customer relationships and teamwork has made her one of the premier Account Managers in the Industry.

“I am excited to be a part of the Utility Fleet family whose mission is dedicated to Customer Service and Professionalism” said Cotton. “The marketplace is very competitive and providing my customers with every advantage has always been my main goal.”

 

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Blackstone Forms Leading Utility and Heavy Equipment Platform

The Blackstone Group

New York, New YorkJanuary 30, 2015. Blackstone (NYSE:BX) today announced the formation of a new utility and heavy equipment platform, Utility One Source, in partnership with three family-run businesses, Custom Truck & Equipment, Utility Fleet Sales and Forestry Equipment of Virginia (“FEVA”). Through this partnership, private equity funds managed by Blackstone (collectively with their affiliates “Blackstone”) will provide growth capital for significant additional investment in equipment, innovation and an expanded geographic footprint, which will ensure Utility One Source has the customer-focused solutions the industry requires. Importantly, each company will continue to be family-owned and operated following the investment by Blackstone.

Utility One Source intends to build upon the market positions of each of Custom Truck & Equipment, Utility Fleet Sales and FEVA, while serving as a single source supplier for the utility and heavy equipment industries with a focus on sales, rental equipment, parts, transportation and service.

Leveraging Blackstone’s significant resources and expertise, the platform’s efforts will be coordinated by Chairman Chris Ragot, whose comprehensive operating background includes serving as Group President of Terex, Vice President and General Manager of Ingersoll-Rand Europe, CEO of FreightCar America, CEO of Novariant and CEO of Exopack.

“My family and I are very excited for this opportunity to further grow our business in partnership with Blackstone,” Fred Ross, Custom Truck & Equipment’s President and Owner, said.  “Today’s announcement marks a new chapter for us as we gain a nationwide platform and the capital necessary to better serve our utility, energy and infrastructure customers with innovative solutions for their rental, sales, parts and service needs.”

“We are very excited to be a part of the alignment of three family-owned and operated companies that will be the initial team forming Utility One Sourcein partnership with Blackstone,” George McMahon, CEO of Utility Fleet Sales, said.  “We look forward to continuing to expand Utility One Source and leveraging the expertise of the group to better serve our customers globally.”

“Our partnership with the Utility One Source team and Blackstone represents our strong commitment to the continued growth of the FEVA platform,” Terry Dobyns and Mark Sharman, FEVA’s owners, said. “When looking for an investment firm that would strive to maintain the ‘FEVA Family’ environment for our employees and customers, we found Blackstone to be ideal due to its focus on innovation, our customer’s needs and investment for the next generation of growth.”

“We are excited to bring together these three family-run businesses and to provide the capital for the next phase of their growth as part of Utility One Source,” Sean Klimczak, a Senior Managing Director of Blackstone, who oversees Blackstone’s power, transmission and natural resources investments, said.  “This investment reiterates Blackstone’s strong desire to partner with and invest behind innovative and dynamic companies in the energy and infrastructure sectors to create long-term value for our customers and our investors.”

About Blackstone
Blackstone Energy Partners is Blackstone’s energy-focused private equity business, with a successful record built on Blackstone’s industry expertise and partnerships with exceptional management teams.  Blackstone has invested approximately $8 billion of equity globally across a broad range of sectors within the energy industry.

Blackstone is one of the world’s leading investment firms.  We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work.  We do this by using extraordinary people and flexible capital to help companies solve problems.  Our asset management businesses, with almost $300 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets, and secondary funds, all on a global basis.  Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory, and fund placement services.

Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.

Contact:
Blackstone
Zach Halberg
+1 646-482-8899
Zach.Halberg@Blackstone.com

Peter Rose
+1 212-583-5871
Rose@Blackstone.com

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Utility Fleet Hiring 75+ New Jobs for Expansion While Oil Companies Contract

FOR IMMEDIATE RELEASE

Fort Worth, TX, January 23, 2015 – Utility Fleet Sales announced an expansion of Fort Worth and Bryan/College Station operations. The expansion means twenty-five (25) new positions for Bryan/College Station and fifty (50) new positions for Fort Worth operations.

Oil prices have seen a downward spiral over the last several weeks. In response, Schlumberger announced 9,000 layoffs and Baker-Hughes announced it’s reducing their workforce by 7,000 people. Instability in the oil markets is expected to have a shock wave effect across the state.

Utility Fleet is a final stage manufacturer for multiple publically traded companies serving the growing utility infrastructure market. It provides new and remanufactured utility construction vehicles to all 50 states and 26 countries globally. Due to growing demands for new and upgraded utility infrastructure the sector is expected to continue expansion.

To fill the roles, Utility Fleet will be interviewing and making offers at its Hiring Fair on January 26th and 27th from 7:00 AM to 7:00 PM CST. The event will be held at The Hilton Garden Inn, 3081 University Drive East, located across from Veteran’s Park in Bryan/College Station, Texas.

During the event, Utility Fleet will be conducting interviews for entry level and experienced personnel for the following positions: Diesel Mechanics, Hydraulic Technicians, Paint & Body Technicians, Parts Associates, CDL/Class A Truck Drivers (Over the Road, Heavy Haul), General Shop Support Personnel, Management and Administrative Support Personnel.

“Utility Fleet understands the current economy makes people nervous for their jobs,” stated Timothy Koirtyohann, Utility Fleet’s Human Resources Manager. “Utility Fleet has expanded through rapid organic growth each year despite the worst economy since the Great Depression. Our company remains focused on innovation and organic growth. To manage this we will grow our team through hiring additional talent and developing current employees. This is an exciting time to be joining our company.”

In a time when other companies are slimming down wages and benefits, Utility Fleet is proud to offer all employees a living wage and 100% employer paid health along with a 401(k) with matching contributions.

Utility Fleet is offering appointments and will also accommodate applicants who drop in on a first come/first serve basis. To schedule an interview, visit www.UtilityFleetJobs.com.

For More Information:
Jonathan Carroll
Web Marketing Specialist
Utility Fleet Sales, Ltd.
682-200-6999

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2015 Service Trucks Hitting Ground Daily: Reserve Yours Now! Call 682-200-6999

ETI ServiceTrucks

To start off 2015, Utility Fleet is stocking brand new ETI ETC37IH bucket trucks. The demand and customer satisfaction has been tremendous, and these bucket trucks have continued to sell as quickly as they arrive. To satisfy this demand, Utility Fleet has $5+ million in new ETI bucket trucks currently on order, and is expanding the offering to include material handling units, as well as service trucks equipped with service cranes. Reserve your bucket truck now so you know you will have the equipment you need, right when you need it. Units are arriving daily, thus you won’t have to wait the usual 9-12 months required by most manufacturers.

Contact your Utility Fleet representative today and ask about units on the ground this week.

Fort Worth Office: 682-200-6999

Bryan Office: 979-778-0700

Choose the Truck You Want: 4×2, 4×4 and Material Handling Units

ETC37IH bucket trucks are arriving on 2015 Ford F550 chassis; both 4×2 and 4×4 models available. The Ford F550’s feature the 6.7L Powerstroke diesel engine and are equipped with A/C, engine block heater, automatic transmission, AM/FM radio and cruise control. Service bodies include side entry steps at the tailshelf for increase safety and ease of use.

Additional Options

  • Insulated Boom
  • Articulating Telescopic
  • 42’ Working Height
  • 350 lb. Platform Capacity
  • Hydraulically Leveled Bucket w/ Rotator
  • Single Handle Upper Control
  • Continuous Rotation
  • Tool Circuits at Bucket
  • Emergency Lowering Valve

Many utility fleets in rely on the ETI ETC37IH as the industry’s choice for insulated, 42 ft. working height needs. ETI’s commitment to meet and exceed customer expectations has enabled them to become the world’s fastest growing manufacturer of bucket trucks.

If you need a material handling bucket truck, look no further. New ETI ETCMH37 and ETCMH43 models are arriving soon. Both aerial devices are equipped with articulating telescopic booms with a 1,000 lb. lifting capacity material handling winch. While there are other brand models that can offer similar working height, the ETCMH42 has best in its class lifting capacity with no deductions for job length.

Call Utility Fleet today to reserve your bucket truck! 682-200-6999 or 979-778-0700.

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Senate Passes Bill for Expanding Section 179 Limits

Section 179 Tax Benefits

What is the Section 179 Deduction?

Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.

How does it work?

When your business buys certain items of equipment, it typically gets to write them off a little at a time through depreciation. In other words, if your company spends $50,000 on a machine, it gets to write off (say) $10,000 a year for five years (these numbers are only meant to give you an example).

Now, while it’s true that this is better than no write-off at all, most business owners would really prefer to write off the entire equipment purchase price for the year they buy it.

In fact, if a business could write off the entire amount, they might add more equipment this year instead of waiting over the next few years. That’s the whole purpose behind Section 179 – to motivate the American economy (and your business) to move in a positive direction. For most small businesses, the entire cost can be written-off on the 2014 tax return (up to $25,000*).

*UPDATE (12-17-2014): Last night, on a vote 76-16, the Senate passed the Tax Extender Bill, which extends the deduction limit from $25,000 to $500,000! The House passed the bill on December 3rd, with a vote of 378-46. The Tax Extender Bill now heads to President Obama, who is expected to sign.

What equipment qualifies?

Every piece of equipment at Utility Fleet qualifies. We have new and remanufactured units on ground and available for immediate delivery before year end!

If you are considering buying or leasing bucket trucks, digger derricks, or related equipment, we strongly encourage you to do so before December 31, 2014. To learn more about Section 179, visit www.Section179.org.

Source: www.Section179.org

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Altec Follows Utility Fleet’s Lead in Supporting Linemen

Utility Fleet began the NASCAR season sponsoring #50 dedicated to electrical linemen truck in support of linemen everywhere. Utility Fleet Sales is proud to see its lead followed by other companies in the industry, such as Altec. Thank you Linemen, for keeping the lights on!

Goodluck to MAKE Motorsports and TJ Bell on the race this weekend!

Utility Fleet supports LinemanDrivin for Lineman Race Series

 

 

 

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Pacific Gas and Electric Company Works to Restore Power after Earthquake in Napa, California

Pacific Gas and Electric Company (PG & E) worked to quickly restore power to homes and businesses following an earthquake that struck the San Francisco Bay area in California. With a magnitude of 6.1 on the Richter scale, it was the strongest quake to hit the region in 25 years.

PG&E trucks help restore power The earthquake, whose epicenter was located four miles from American Canyon and 51 miles from Sacramento, struck at 3:20 on the morning of Sunday, August 24. It damaged homes and businesses, brought down power lines, ruptured water mains, sparked fires, and injured over 200 people. Governor Jerry Brown declared a state of emergency for Napa, Sonoma, and Solana counties, and the Director of the Office of Emergency Services declared 100 homes to be uninhabitable. The effects of the quake were felt from the heart of San Francisco all the way out to the Nevada state line, and 70,000 customers were left without power.

PG & E mounted a rapid response, working to restore electric and gas services to the homes and businesses that had lost power as a result of the earthquake. Thanks to technological advances, PG & E was able to restore power to the vast majority of its customers in the region within 24 hours of the quake. Through the use of accurate computer modeling, PG & E could ascertain how many customers would be left without power and where the power outages would be located. They were able to start deploying trucks and crews by sunrise on the morning the earthquake struck. PG & E also used their wireless SmartMeters™ to help pinpoint exactly which buildings repairs would be needed.

Since its founding in 1905, PG & E has served Northern California’s energy requirements. Today, the utility company is headquartered in San Francisco and provides electrical and natural gas power to 16 million customers in a service area of 70,000 square miles.

PG & E communicates with customers on multiple platforms, including their website, a call center, and social media channels, to impart information about outages, recovery efforts, and safety initiatives. We extend our thanks and appreciation to the crews and linemen of PG & E for their prompt restoration of power to homes and businesses in the region, and we commend their prioritization of customer safety and well-being.

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