March 28, 2017 8:25 PM ET

Trading Companies and Distributors

Company Overview of Light Tower Rentals, Inc.

Company Overview

As of February 24, 2017, Light Tower Rentals, Inc. was acquired by Globe Energy Services, LLC. Light Tower Rentals, Inc. provides industrial rental equipment and services to energy and construction markets. It provides site lighting, power generation, fluid handling, water management, well site heating, and other ancillary equipment services. The company offers power generation products, including natural gas generators, diesel gas generators, and air compressors; water filtration and management equipment; indirect and flameless heaters; heavy duty light towers; temporary housing and office accommodations; heavy duty cleaning equipment; asset location and performance monitoring equipment; sa...

2330 East Interstate 20

South Service Road

Odessa, TX 79766

United States

Founded in 1994

Phone:

432-530-3330

Fax:

432-530-3339

Key Executives for Light Tower Rentals, Inc.

Light Tower Rentals, Inc. does not have any Key Executives recorded.

Light Tower Rentals, Inc. Key Developments

Reorganization Plan & Related Disclosure Statement Approved for Light Tower Rentals, Inc.

The US Bankruptcy Court approved the disclosure statement and plan of reorganization of Light Tower Rentals, Inc. on September 30, 2016. As per the approved plan, Administrative Claims, Professional Claims, Priority Tax Claims of $2 million, Other Priority Claims of $1.8 million and Revolving Facility Claims will be paid in full in cash. Other Secured Claims will either be paid in full in cash or will be allotted the collateral securing the claim or be reinstated at the option of claim holders. Note holder Claims of $345 million, expected to recover in the range of 49% to 61%, will receive pro rata share of the Note holder Equity Recovery and New Notes. General Unsecured Claims of $5.5 million shall receive Cash in an amount equal to such allowed claim. Interests in Debtors other than Investco will either be reinstated or cancelled without any distribution at the consent of the claim holders. Investco Convertible Preferred Interests will be canceled and will receive its Pro Rata share of Equity Warrants. Investco Preferred Interests of $97.6 million, expected to recover in the range of $7.5 to $9.6 million, will be canceled and will Pro Rata share of Management Warrants representing 1% of the total equity of New LTR Holdings valued between $1.5 million to $2 million. Investco Common Interests and Section 510(b) Claims will be canceled and will not receive any distribution on account of such Interests. There are no Other Secured Claims, Section 510(b) Claims and Revolving Facility Claims as of now. The plan will be funded through cash in hand, issuance of new notes of $30 million, issuance of New LTR Holdings Interests, penny warrants or options.

Reorganization Plan and Disclosure Statement Filed by Light Tower Rentals, Inc.

Light Tower Rentals, Inc. filed a pre-packaged plan of reorganization with related disclosure statement in the US Bankruptcy Court on August 30, 2016. As per the plan, Administrative Claims, Professional Claims, Priority Tax Claims of $2 million, Other Priority Claims of $1.8 million and Revolving Facility Claims will be paid in full in cash. Other Secured Claims will either be paid in full in cash or will be allotted the collateral securing the claim or be reinstated at the option of claim holders. Note holder Claims of $345 million, expected to recover in the range of 49% to 61%, will receive pro rata share of the Note holder Equity Recovery and New Notes. General Unsecured Claims of $5.5 million shall receive Cash in an amount equal to such allowed claim. Interests in Debtors other than Investco will either be reinstated or cancelled without any distribution at the consent of the claim holders. Investco Convertible Preferred Interests will be canceled and will receive its Pro Rata share of Equity Warrants. Investco Preferred Interests of $97.6 million, expected to recover in the range of $7.5 to $9.6 million, will be canceled and will Pro Rata share of Management Warrants representing 1% of the total equity of New LTR Holdings valued between $1.5 million to $2 million. Investco Common Interests and Section 510(b) Claims will be canceled and will not receive any distribution on account of such Interests. There are no Other Secured Claims, Section 510(b) Claims and Revolving Facility Claims as of now. The plan will be funded through cash in hand, issuance of new notes of $30 million, issuance of New LTR Holdings Interests, penny warrants or options.

Similar Private Companies By Industry

Company Name Region
195 Lumber Company United States
2 J Supply, Inc. United States
21st Century Equipment, LLC United States
2M Company, Inc. United States
31-W Insulation Co., Inc. United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 24, 2017
--
Merger/Acquisition
October 11, 2016
--
Bankruptcy
August 30, 2016
--
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Bloomberg L.P. United States
The Advertising Council, Inc. United States
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Light Tower Rentals, Inc., please visit www.lighttowerrentals.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.