Noble Iron Inc.’s sale of its Los Angeles-based equipment rental operations to Sunbelt Rentals Inc. has been completed.
The total purchase price was $46.5 million in cash, of which $1.37 million is being held in an escrow account for 180 days following closing for any adjustments to the purchase price. The transaction did not involve Noble Iron’s software subsidiary, Texada Software , or the company’s intellectual property, trademarks and assets held separately from Noble Iron’s Los Angeles subsidiary.
The transaction received conditional approval to close from the TSX Venture Exchange and is subject to final approval following closing.
For more information, visit www.Nobleiron.com or call (855) 767-4424.