United Rentals, Inc. and NES Rentals Holdings II, Inc. announced that they have entered into a definitive agreement under which United Rentals will acquire NES for approximately $965m in cash. The board of directors of United Rentals and Diamond Castle Holdings LLC, the majority owner of NES, unanimously approved the agreement. The transaction is expected to close early in the second quarter of 2017, subject to Hart-Scott-Rodino clearance and customary conditions.