Simpson Thacher represented the underwriters, led by joint bookrunners Morgan Stanley & Co. LLC, Jefferies LLC, Piper Jaffray & Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, and co-manager, Wells Fargo Securities, LLC, in the initial public offering by Neff Corporation (“Neff”) of an aggregate of 10,476,190 shares of its Class A common stock. Neff also granted the underwriters a 30-day option to purchase up to an additional 1,571,428 shares of Class A common stock to cover over-allotments. The offering raised aggregate net proceeds of approximately $146 million. Neff’s Class A common stock is listed on the New York Stock Exchange under the symbol “NEFF” and opened for trading on November 21, 2014. Neff intends to use the net proceeds of the offering primarily to repay outstanding indebtedness.
Neff is a leading regional equipment rental company in the United States, focused on the fast-growing Sunbelt states. Neff offers a broad array of equipment rental solutions for its diverse customer base, including non-residential construction, oil and gas and residential construction customers.
The Simpson Thacher team included Art Robinson, Lesley Peng, David Azarkh, Sarah Elliott and Paul Rodriguez (Capital Markets); Sophie Staples (Tax); David Rubinsky and Jennifer Pepin (Executive Compensation and Employee Benefits); Adeeb Fadil and Tim Mulvihill (Environmental); and Jennie Getsin (FINRA and Blue Sky).