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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of report (Date of earliest event reported) October 21, 1997 (October 6, 1997)
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RENTAL SERVICE CORPORATION
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(Exact Name of Registrant as Specified in Its Charter)
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DELAWARE 000-21237 33-0569350
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(State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)
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14505 North Hayden Road, Suite 322, Scottsdale, Arizona 85260
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(Address of Principal Executive Offices) (Zip Code)
(602) 905-3300
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(Registrant's Telephone Number, including Area Code)
NOT APPLICABLE
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
On October 6, 1997, Rental Service Corporation ("RSC" or the "Company")
reached a definitive agreement, effective November 1, 1997, to acquire (i) all
of the outstanding capital stock of Rent-It-Center, Inc. d/b/a/ Center Rentals
and Sales for approximately $48.8 million in cash, 310,198 shares of RSC Common
Stock and the assumption of debt, (ii) substantially all of the assets of Lanoha
Leasing Limited Liability Company for approximately $26.0 million in cash,
86,058 shares of RSC Common Stock and the assumption of debt, (iii)
substantially all of the assets of Zuni Rental Enterprises L.L.C. for
approximately $15.6 million in cash, 51,636 shares of RSC Common Stock and the
assumption of debt, and (iv) Center Rental & Sales/Omaha, LLC for approximately
$10.4 million in cash, 34,423 shares of RSC Common Stock and the assumption of
debt (collectively, "Center"). The collective purchase price is subject to
adjustment based on levels of stockholders' equity, inventory, equipment and
debt.
Center is a leading independent rental company and also sells a variety of
equipment ranging from small tools to heavy equipment, including related
commodity supplies. Center operates a total of 14 locations in Colorado (6), New
Mexico (3), Texas (2), Kansas (1), Missouri (1) and Nebraska (1), and had
combined trailing twelve months revenues of approximately $46.0 million.
The transaction is anticipated to close by November 28, 1997, and will be
recorded under the purchase method of accounting. The closing is subject to a
number of closing conditions, including RSC board and bank approval and early
termination or expiration of the waiting period under the Hart-Scott-Rodino Act.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
RENTAL SERVICE CORPORATION
Date: October 21, 1997 By: /s/ Robert M. Wilson
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Robert M. Wilson,
Senior Vice President and
Chief Financial Officer
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