Onsite Rental Group Goes Back to Market

Major equipment rental supplier Onsite Rental Group is going back to market looking for some fresh cash. Following a failed IPO in 2019, debt-for-equity swap in 2017 and a number of ‘soft’ sales pitches to trade buyers, the company is again looking for a cash injection. This time, it is reporting around $220m in debt against an asset base of $420m… interesting given the it claimed assets with an RV of $635m in October 2019?

Will anyone bite this time?

Read more at the AFR here.