Custom Truck One Source (CTOS) 10-Q 12 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2019	Nov. 12, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Entity Central Index Key	0001709682
Document Period End Date	Sep. 30, 2019
Current Fiscal Year End Date	--12-31
Entity Registrant Name	Nesco Holdings, Inc
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	true
Entity Small Business	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		49,033,903
Entity Current Reporting Status	Yes
Entity Shell Company	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current Assets
Cash	$ 201	$ 2,140
Accounts receivable, net of allowance of $4,120 and $7,562, respectively	62,617	52,559
Inventory	21,409	11,435
Prepaid expenses and other	4,791	2,483
Total current assets	89,018	68,617
Property and equipment, net	9,195	2,763
Rental equipment, net	341,870	320,722
Other Assets
Goodwill	228,714	228,714
Other intangible assets, net	70,236	70,740
Total other assets	298,950	299,454
Total Assets	739,033	691,556
Current Liabilities
Accounts payable	36,178	20,867
Accrued expenses	5,495	6,359
Accrued interest expense	10,144	14,024
Deferred rent income	2,314	4,762
Current portion of capital lease obligations	5,313	4,866
Current maturities of long-term debt	1,280	2,531
Total current liabilities	60,724	53,409
Long-term debt, net	655,396	756,872
Capital leases	24,140	28,418
Deferred tax liabilities	12,006	11,191
Other liabilities	2,552	422
Total long-term liabilities	694,094	796,903
Commitments and contingencies
Stockholders' Deficit
Common Stock	5	2
Additional paid-in capital	432,027	259,298
Accumulated deficit	(447,817)	(417,660)
Accumulated other comprehensive loss	0	(396)
Total stockholders' deficit	(15,785)	(158,756)
Total Liabilities and Stockholders' Deficit	$ 739,033	$ 691,556

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for accounts receivable	$ 4,120	$ 7,562
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	250,000,000	250,000,000,000
Common stock, issued (in shares)	49,033,903	21,660,638
Common stock, outstanding (in shares)	49,033,903	21,660,638

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue
Rental revenue	$ 62,442	$ 64,082	$ 186,789	$ 177,609
Cost of Revenue
Cost of rental revenue, excluding depreciation	23,271	28,660	72,516	71,512
Depreciation of rental equipment	17,907	15,208	52,012	46,517
Major repair disposal	376	300	1,522	1,061
Total cost of revenue	41,178	43,868	124,528	118,029
Gross Profit	21,264	20,214	62,261	59,580
Operating Expenses
Transaction expenses	3,325	127	7,394	163
Selling, general, and administrative expenses	10,514	8,369	26,634	26,085
Amortization expense	724	720	2,172	2,103
Non-rental depreciation	21	58	92	161
Asset impairment	657	0	657	0
Other operating expenses	434	0	1,213	0
Total operating expenses	15,675	9,274	38,162	28,512
Operating Income	5,589	10,940	24,099	31,068
Other Expense (Income)
Loss on extinguishment of debt	4,005	0	4,005	0
Interest expense, net	16,533	14,196	46,376	41,649
Other (income) expense, net	2,567	(42)	2,545	286
Total other expenses	23,105	14,154	52,926	41,935
Loss Before Income Taxes	(17,516)	(3,214)	(28,827)	(10,867)
Income Tax Expense	494	463	1,330	1,253
Net Loss	$ (18,010)	$ (3,677)	$ (30,157)	$ (12,120)
Loss per share:
Basic and diluted net loss per share (USD per share)	$ (0.45)	$ (0.17)	$ (1.09)	$ (0.56)
Weighted-average common shares outstanding:
Weighted-average basic and diluted shares outstanding (in shares)	39,909,481	21,660,638	27,743,586	21,660,638
Rental revenue
Revenue
Rental revenue	$ 50,103	$ 45,867	$ 143,871	$ 136,778
Cost of Revenue
Cost of rental revenue, excluding depreciation	13,332	13,686	36,802	37,511
Rental Equipment
Revenue
Rental revenue	3,436	5,377	15,167	15,562
Cost of Revenue
Cost of rental revenue, excluding depreciation	2,847	4,041	12,653	13,053
New Equipment
Revenue
Rental revenue	1,246	8,024	8,076	12,167
Cost of Revenue
Cost of rental revenue, excluding depreciation	1,116	7,287	6,618	10,639
Parts sales and services
Revenue
Rental revenue	7,657	4,814	19,675	13,102
Cost of Revenue
Cost of rental revenue, excluding depreciation	$ 5,600	$ 3,346	$ 14,921	$ 9,248

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net Loss	$ (18,010)	$ (3,677)	$ (30,157)	$ (12,120)
Other comprehensive loss
Interest rate collar (net of taxes of $285)	0	0	(388)	0
Other comprehensive loss	0	0	(388)	0
Comprehensive loss	$ (18,010)	$ (3,677)	$ (30,545)	$ (12,120)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Loss (unaudited) Parenthetical - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Interest rate collar, taxes	$ 285,000	$ 285,000
Reclassification from accumulated other comprehensive loss	784,000	800,000
Reclassification from accumulated other comprehensive loss, taxes	$ 300,000	$ 300,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating Activities
Net loss	$ (30,157)	$ (12,120)
Adjustments to reconcile net loss to net cash flow from operating activities:
Depreciation	52,104	46,678
Amortization expense	2,172	2,103
Amortization - financing costs	2,099	2,721
Provision for losses on accounts receivable	3,472	2,563
Share-based payments	463	850
Gain on sale of rental equipment and parts	(3,930)	(10,798)
Gain on insurance proceeds - damaged equipment	(570)	0
Major repair disposal	1,522	1,061
Loss on extinguishment of debt	4,005	0
Change in fair value of derivative	2,552	0
Asset impairment	657	0
Deferred tax expense	816	844
Changes in assets and liabilities:
Accounts receivable	(13,728)	(3,010)
Inventory	(13,742)	(8,544)
Prepaid expenses and other	(2,211)	(827)
Accounts payable	4,792	(4,403)
Accrued expenses and other liabilities	(4,770)	(10,806)
Unearned income	(4,832)	(634)
Net cash flow from operating activities	714	5,678
Investing Activities
Cash paid for business acquisition, net of cash acquired	0	(1,593)
Purchase of equipment - rental fleet	(77,752)	(33,101)
Proceeds from sale of rental equipment and parts	22,608	32,014
Insurance proceeds from damaged equipment	1,721	0
Purchase of other property and equipment	(7,166)	(3,976)
Other	(1,671)	3
Net cash flow from investing activities	(62,260)	(6,653)
Financing Activities
Proceeds from debt	475,000	0
Borrowings under revolving credit facilities	243,000	38,000
Repayments under revolving credit facilities	(259,000)	(30,000)
Repayments of notes payable	(527,348)	(1,475)
Capital lease payments	(3,830)	(4,017)
Proceeds from merger and recapitalization	147,268	0
Finance fees paid	(15,483)	(1,645)
Net cash flow from financing activities	59,607	863
Net Change in Cash	(1,939)	(112)
Cash at Beginning of Period	2,140	960
Cash at End of Period	201	848
Supplemental Cash Flow Information
Cash paid for interest	47,861	48,542
Cash paid for income taxes	444	347
Non-Cash Investing and Financing Activities
Transfer of parts inventory to leased equipment	3,767	3,936
Rental equipment purchases in accounts payable	21,227	11,282
Rental equipment sales in accounts receivable	169	1,291
Insurance recoveries accrued in accounts receivable	189	0
Rental equipment on capital lease	0	6,694
Acquisition	$ 0	$ 3,546

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Stockholder's Deficit (unaudited) - USD ($)	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Balance (in shares) at Dec. 31, 2017		21,660,638
Balance at Dec. 31, 2017	$ (143,964,000)	$ 2,000	$ 258,168,000	$ (402,134,000)	$ 0
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Net loss	(3,034,000)			(3,034,000)
Share-based payments	290,000		290,000
Balance (in shares) at Mar. 31, 2018		21,660,638
Balance at Mar. 31, 2018	(146,708,000)	$ 2,000	258,458,000	(405,168,000)	0
Balance (in shares) at Dec. 31, 2017		21,660,638
Balance at Dec. 31, 2017	(143,964,000)	$ 2,000	258,168,000	(402,134,000)	0
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Net loss	(12,120,000)
Interest rate collar	0
Balance (in shares) at Sep. 30, 2018		21,660,638
Balance at Sep. 30, 2018	(155,234,000)	$ 2,000	259,018,000	(414,254,000)	0
Balance (in shares) at Mar. 31, 2018		21,660,638
Balance at Mar. 31, 2018	(146,708,000)	$ 2,000	258,458,000	(405,168,000)	0
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Net loss	(5,409,000)			(5,409,000)
Share-based payments	280,000		280,000
Balance (in shares) at Jun. 30, 2018		21,660,638
Balance at Jun. 30, 2018	(151,837,000)	$ 2,000	258,738,000	(410,577,000)	0
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Net loss	(3,677,000)			(3,677,000)
Share-based payments	280,000		280,000
Interest rate collar	0
Balance (in shares) at Sep. 30, 2018		21,660,638
Balance at Sep. 30, 2018	$ (155,234,000)	$ 2,000	259,018,000	(414,254,000)	0
Balance (in shares) at Dec. 31, 2018	21,660,638	21,660,638
Balance at Dec. 31, 2018	$ (158,756,000)	$ 2,000	259,298,000	(417,660,000)	(396,000)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Net loss	(6,724,000)			(6,724,000)
Share-based payments	128,000		128,000
Interest rate collar	88,000				88,000
Balance (in shares) at Mar. 31, 2019		21,660,638
Balance at Mar. 31, 2019	$ (165,264,000)	$ 2,000	259,426,000	(424,384,000)	(308,000)
Balance (in shares) at Dec. 31, 2018	21,660,638	21,660,638
Balance at Dec. 31, 2018	$ (158,756,000)	$ 2,000	259,298,000	(417,660,000)	(396,000)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Net loss	(30,157,000)
Interest rate collar	$ 800,000
Balance (in shares) at Sep. 30, 2019	49,033,903	49,033,903
Balance at Sep. 30, 2019	$ (15,785,000)	$ 5,000	432,027,000	(447,817,000)	0
Balance (in shares) at Mar. 31, 2019		21,660,638
Balance at Mar. 31, 2019	(165,264,000)	$ 2,000	259,426,000	(424,384,000)	(308,000)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Net loss	(5,423,000)			(5,423,000)
Share-based payments	52,000		52,000
Interest rate collar	(476,000)				(476,000)
Balance (in shares) at Jun. 30, 2019		21,660,638
Balance at Jun. 30, 2019	(171,111,000)	$ 2,000	259,478,000	(429,807,000)	(784,000)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Net loss	$ (10,988,000)			(10,988,000)
Balance (in shares) at Jul. 31, 2019	49,033,903
Balance (in shares) at Jun. 30, 2019		21,660,638
Balance at Jun. 30, 2019	$ (171,111,000)	$ 2,000	259,478,000	(429,807,000)	(784,000)
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Net loss	(18,010,000)
Share-based payments	283,000		283,000
Interest rate collar	784,000				784,000
Reverse capitalization (in shares)		27,373,265
Reverse capitalization	$ 172,269,000	$ 3,000	172,266,000
Balance (in shares) at Sep. 30, 2019	49,033,903	49,033,903
Balance at Sep. 30, 2019	$ (15,785,000)	$ 5,000	432,027,000	(447,817,000)	0
Balance (in shares) at Jul. 31, 2019	49,033,903
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Net loss	$ (7,022,000)			(7,022,000)
Balance (in shares) at Sep. 30, 2019	49,033,903	49,033,903
Balance at Sep. 30, 2019	$ (15,785,000)	$ 5,000	$ 432,027,000	$ (447,817,000)	$ 0

Business

Business	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	Business Organization Nesco Holdings, Inc. (“Holdings”), a Delaware corporation, serves as the parent for our primary operating company, NESCO, LLC. NESCO, LLC, an Indiana limited liability company, and its wholly owned subsidiaries (collectively, “we,” “our,” “us,” “Nesco,” or the "Company"), is engaged in the business of providing a range of services and products to customers through rentals of specialty equipment, sales of parts related to the specialty equipment, and repair and maintenance services related to that equipment. Holdings' wholly-owned subsidiaries include NESCO Holdings I, Inc. (which was the ultimate parent holding company prior to the transaction described below) ("Holdings I"), NESCO Finance Corporation, a Delaware corporation, NESCO Investments, LLC, a Delaware limited liability company, NESCO International, LLC, a Delaware limited liability company, and NESCO El Alquiler S. de R.L. de C.V., an operating company in Mexico. We are a specialty equipment rental provider to the electric utility transmission and distribution, telecommunications and rail industries in North America. Our core business relates to our fleet of specialty rental equipment that is utilized by service providers in infrastructure improvement work. Specifically, we offer our specialized equipment to a diverse customer base, including utilities and contractors, for the maintenance, repair, upgrade and installation of critical infrastructure assets, including electric lines, telecommunications networks and rail systems, as well as for lighting and signage. We rent and sell a broad range of new and used equipment, including bucket trucks, digger derricks, line equipment, cranes, pressure diggers, and underground equipment, which forms our Equipment Rental and Sales ("ERS") segment. To complement our fleet, we also provide a one-stop shop for existing and prospective Nesco customers to purchase or rent parts, tools, and accessories needed to outfit their specialty truck fleet. These activities form our Parts, Tools, and Accessories (“PTA”) segment. We are positioned to serve all 50 U.S. states and 13 Canadian provinces and territories via our network of over 50 locations in the United States and Canada. Merger with Capitol Investment Corp. IV On April 7, 2019, Holdings I entered into a definitive agreement (as amended, the “Merger Agreement”) with Capitol Investment Corp. IV ("Capitol"), a public investment vehicle, whereby the parties agreed to merge, resulting in the parent of Holdings I becoming a publicly listed company. This merger closed on July 31, 2019 (“Merger”), which consummated as a result of the following (the “Transactions”): • Holders of 26,091,034 shares of Capitol Class A ordinary shares sold in its initial public offering exercised their rights to convert those shares to cash at a conversion price of $10.24 per share, or an aggregate of approximately $267.2 million . The per share conversion price of $10.24 for holders of public shares electing conversion was paid out of Capitol’s trust account, which had a balance immediately prior to the closing of approximately $412.3 million . Concurrently, NESCO Holdings, LP, a Delaware limited partnership controlled by Energy Capital Partners ("Nesco Owner") and the sole shareholder of Holdings I, purchased 4,500,000 newly-issued shares of common stock at a price of $10.00 per share in exchange for a combination of cash and full repayment of certain outstanding indebtedness, and the founders of Capitol (the "Capitol Sponsors") purchased in aggregate 1,000,000 newly-issued shares of common stock at a price of $10.00 per share, paid in cash (see Note 5). • Of the remaining funds in the trust account and amounts from the sale of the newly-issued common stock described above: (i) approximately $17.8 million was used to pay Capitol’s transaction expenses, (ii) $127.8 million was used to pay down Nesco's debt, and (iii) the balance of approximately $10.2 million was released to Nesco to be used to pay certain of Nesco's transaction-related costs. The amount remaining (after deducting direct equity issuance costs of $10.0 million ) from the combination of the trust account funds and consideration received from Nesco Owner and the Capitol Sponsors discussed above of $172.3 million was reflected as contributed capital in the Company's Condensed Consolidated Statements of Stockholders' Deficit in the three months ended September 30, 2019. • In connection with the Merger, Capitol became Holdings by domesticating from the Cayman Islands as a corporation formed under the laws of the State of Delaware named Nesco Holdings, Inc. • Immediately after giving effect to the Transactions (including as a result of the conversions described above and certain forfeitures of Capitol common stock and warrants immediately prior to the closing), there were 49,033,903 shares of common stock issued and outstanding, which excludes the additional shares that Nesco Owner may be entitled to as further described below. Additionally, there were warrants to purchase 20,949,980 shares of common stock issued and outstanding. • Upon the closing, Capitol’s common stock, warrants and units ceased trading, and upon the opening of trading on August 1, 2019, Holdings' common stock and warrants began trading on the NYSE, respectively, under the symbol “NSCO” and “NSCO WS,” respectively. • Upon the completion of the Transactions, NESCO Holdings, LP, a Delaware limited partnership controlled by Energy Capital Partners ("Nesco Owner"), and certain members of management of the Company received 21,660,638 shares of Holdings and warrants to purchase 2,500,000 shares of Holdings, in exchange for all of the share capital. Nesco Owner also obtained the right to receive up to 3,451,798 additional common shares of the Company upon the occurrence of certain events. • At the closing of the Transactions, Nesco Owner and certain members of management of Holdings held approximately 53% of the issued and outstanding ordinary shares of Holdings and stockholders of Capitol held approximately 47% of the issued and outstanding shares of Holdings. Accordingly, the Merger transactions were treated as the equivalent of Holdings I issuing stock for the net assets of Capitol. Consistent with SEC Topic 12, Reverse Acquisitions and Reverse Recapitalizations , the acquisition of a private operating company by a non-operating public shell corporation typically results in the owners and management of the private company having actual or effective voting control and operating control of the combined company. Therefore, the transaction is, in substance, a reverse recapitalization, equivalent to the issuance of stock by the private company for the net monetary assets of the shell corporation accompanied by a recapitalization. The accounting is similar to that of a reverse acquisition, except that no goodwill or other intangible assets should be recorded. The net assets of Capitol as of July 31, 2019

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Polices	Note 2: Summary of Significant Accounting Policies Basis of Presentation The accompanying interim statements of the Company have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X issued by the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments and disclosures necessary for a fair statement of these interim statements have been included. The results reported in these interim statements are not necessarily indicative of the results that may be reported for the entire year or for any other period. These interim statements should be read in conjunction with Holdings I’s audited financial statements for the year ended December 31, 2018, included in Capitol's final prospectus and definitive proxy statement filed with the Securities and Exchange Commission on June 4, 2019 (as supplemented on June 24, 2019 and July 11, 2019) , and incorporated by reference in the Current Report on Form 8-K filed with the SEC on August 1, 2019 . The Transactions were accounted for as a reverse recapitalization in accordance with GAAP. Under this method of accounting, Capitol was treated as the acquired company and Holdings I was treated as the acquirer for financial reporting purposes. Therefore, the consolidated financial results include information regarding Holdings I as Nesco Holdings, Inc.'s predecessor entity. Thus, the financial statements included in this report reflect: (i) the historical operating results of Holdings I prior to the Transactions; (ii) the combined results of Capitol and Holdings I following the Transactions (effectively, Nesco Holdings, Inc.); (iii) the assets, liabilities and stockholder's equity of Holdings I at their historical costs; and (iv) Nesco Holdings, Inc.’s equity and earnings per share presented for the period from the Closing Date of the Transactions. Use of Estimates These consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States, and accordingly, include amounts that require management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and in the notes thereto. Significant items subject to such estimates and assumptions include, but are not limited to, the useful lives and salvage values of our rental equipment. Actual results may differ from these estimates and assumptions. In the opinion of management, these financial statements reflect all normal recurring adjustments necessary for a fair presentation of the interim period results. These consolidated financial statements and notes should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2018 . Recently Issued Accounting Pronouncements Leases The FASB’s new guidance to account for leases (“Topic 842”) by entities that are lessees, requires (1) recognition of lease assets and lease liabilities on the balance sheet and (2) disclosure of key information about leasing arrangements. Topic 842 provides two classifications for leases: financing or operating. Finance leases - The accounting and recognition for leases qualifying as finance leases is similar to the accounting and recognition required under ASC Topic 840, Leases (“Topic 840”), for capital leases. As of September 30, 2019 , we have capital lease obligations of approximately $29.5 million . When we make our contractually required payments under the capital leases, we allocate a portion to reduce the capital lease obligation and a portion is recognized as interest expense. The assets leased under the capital leases are included in rental equipment, and depreciation thereon is recognized in cost of rental revenue. Operating leases - Under Topic 842, operating leases result in the recognition of right-of-use (“ROU”) assets and lease liabilities on the balance sheet. ROU assets represent our right to use the leased asset for the lease term and lease liabilities represent our obligation to make lease payments. Under Topic 842, operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, upon adoption of Topic 842, we will use our estimated incremental borrowing rate at the commencement date to determine the present value of lease payments. The operating lease ROU assets will also include any lease payments made and exclude lease incentives. Our lease terms may include options to extend or terminate the lease that we are reasonably certain to exercise. Lease expense under Topic 842 will be recognized on a straight-line basis over the lease term. Upon adoption of Topic 842, we expect to recognize operating lease ROU assets and lease liabilities that reflect the present value of these future payments, which we currently estimate to be in the range of $8.0 million to $10.0 million . In October 2019, the FASB approved its proposal to defer the effective date of Topic 842 by one year. Accordingly, we will adopt Topic 842 effective January 1, 2021, using the transition method that allows us to recognize a cumulative-effect adjustment to the opening balance of accumulated deficit in the period of adoption. A modified retrospective approach is required for adoption for all leases that exist at or commence after the date of initial application with an option to use certain practical expedients. We expect to use the package of practical expedients that allows us to not reassess: (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases and (3) initial direct costs for any expired or existing leases. We additionally expect to use the practical expedient that allows lessees to treat the lease and non-lease components of leases as a single lease component. Under Topic 842, lessor accounting will remain substantially similar to the current accounting; however, certain refinements were made to conform the standard with the recently issued revenue recognition guidance in ASC Topic 606, Revenue from Contracts with Customers (“Topic 606”), specifically related to the allocation and recognition of contract consideration earned from lease and non-lease revenue components. On July 30, 2018, the FASB issued ASU 2018-11, which created a practical expedient that provides lessors an option not to separate lease and non-lease components when certain criteria are met and instead account for those components as a single lease component. We are currently in the process of evaluating whether our lease arrangements will meet the criteria under the practical expedient to account for lease and non-lease components as a single lease component, which would alleviate the requirement upon adoption of Topic 842 that we reallocate or separately present lease and non-lease components. Derivatives In August 2017, the FASB issued ASU 2017-12, “ Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities ,” which includes changes to its accounting guidance for derivatives and hedging, which changes both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. Some changes resulting from this new guidance include the elimination of the concept of recognizing periodic hedge ineffectiveness for cash flow hedges, changes to the recognition and presentation of changes in the fair value of the hedging instrument, enhancement of the ability to use the critical-terms-match method for the cash flow hedge of groups of forecasted transactions when the timing of the hedged transactions does not perfectly match the hedging instrument’s maturity date, and the addition of new disclosure requirements and amendments to existing ones. This new guidance is effective for us as of January 1, 2020. We are currently evaluating the impact of the new guidance on our consolidated financial statements. Revenue Recognition Following the adoption of Topic 606, as of January 1, 2018, we recognized revenue in accordance with two different accounting standards: 1) Topic 606 and 2) Topic 840, which addresses lease accounting, for which we will adopt an update to this standard using the modified retrospective approach, as described herein. For the three and nine months ended September 30, 2019 and 2018 , we recognized rental revenue in accordance with Topic 840 Leases, which is the lease accounting standard. Under Topic 606, revenue from contracts with customers is measured based on the consideration specified in the contract with the customer, and excludes any sales incentives and amounts collected on behalf of third parties. A “performance obligation” is a promise in a contract to transfer a distinct good or service to a customer, and is the unit of account under Topic 606. We recognize revenue when we satisfy a performance obligation by transferring control over a product or service to a customer. The amount of revenue recognized reflects the consideration we expect to be entitled to in exchange for such products or services. As reflected below, most of our revenue is accounted for under Topic 840. Our contracts with customers generally do not include multiple performance obligations. The inset below presents our revenue types based on the accounting standard used to determine the accounting. Three Months Ended September 30, Three Months Ended September 30, 2019 2018 (in $000s) Topic 840 Topic 606 Total Topic 840 Topic 606 Total Rental: Rental revenue $ 47,821 $ — $ 47,821 $ 43,944 $ — $ 43,944 Shipping and handling — 2,282 2,282 — 1,923 1,923 Total rental revenue 47,821 2,282 50,103 43,944 1,923 45,867 Sales and services: Sales of rental equipment — 3,436 3,436 — 5,377 5,377 Sales of new equipment — 1,246 1,246 — 8,024 8,024 Parts and services — 7,657 7,657 — 4,814 4,814 Total sales and services — 12,339 12,339 — 18,215 18,215 Total revenue $ 47,821 $ 14,621 $ 62,442 $ 43,944 $ 20,138 $ 64,082 Nine Months Ended September 30, Nine Months Ended September 30, 2019 2018 (in $000s) Topic 840 Topic 606 Total Topic 840 Topic 606 Total Rental: Rental revenue $ 137,194 $ — $ 137,194 $ 130,905 $ — $ 130,905 Shipping and handling — 6,677 6,677 — 5,873 5,873 Total rental revenue 137,194 6,677 143,871 130,905 5,873 136,778 Sales and services: Sales of rental equipment — 15,167 15,167 — 15,562 15,562 Sales of new equipment — 8,076 8,076 — 12,167 12,167 Parts and services — 19,675 19,675 — 13,102 13,102 Total sales and services — 42,918 42,918 — 40,831 40,831 Total revenue $ 137,194 $ 49,595 $ 186,789 $ 130,905 $ 46,704 $ 177,609 Rental revenue is primarily comprised of revenues from rental agreements and freight charges billed to customers as well as charges to customers for damaged equipment. Effective July 1, 2019 , damage billings are classified in rental revenue, given that the amounts are directly related to the Company's rental arrangements with its customers. Amounts for damages in comparable prior periods have been reclassified to rental revenue from parts and services in the above table ( $0.9 million and $2.5 million for the three and nine months ended September 30, 2018 , respectively, and $3.2 million and $2.6 million for the years ended December 31, 2018 and 2017 , respectively). Additionally, sales of equipment, which are presented separately between sales of rental equipment and new equipment, were previously presented on a combined basis as equipment sales. For the years ended December 31, 2018 and 2017 , sales of rental equipment were $26.0 million and $17.2 million , respectively, and sales of new equipment were $18.4 million and $10.1 million , respectively. Rental Equipment Rental equipment consisted of the following: (in $000s) September 30, 2019 December 31, 2018 Rental equipment $ 603,506 $ 541,529 Less: accumulated depreciation (261,636 ) (220,807 ) Rental equipment, net $ 341,870 $ 320,722 We recorded a major repair disposal expense of $0.4 million and $0.3 million for the three months ended September 30, 2019 and 2018 , respectively, and $1.5 million and $1.1 million for the nine months ended September 30, 2019 and 2018 , respectively, related to units needing major repairs. On September 27, 2019 , we commenced closure of the Company's operations in Mexico due to continued delays in contracts from the Mexican government. An impairment loss of $0.7 million was recorded to reduce the carrying amount of rental equipment to its fair value, which was determined based on a recent analysis of market activity (i.e., Level 3 fair value as defined in Note 8 herein) for the equipment at these operations. The Company also recorded a $0.2 million charge for the statutorily-required minimum benefits to be be provided to employees due to their involuntary termination. These charges are included in Impairment loss and Selling, General, and Administrative expenses on the Unaudited Condensed Consolidated Statements of Operations, respectively.

Segments

Segments	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segments	Note 3: Segments We operate and have two reportable business segments, Equipment Rental and Sales (“ERS”) and Parts, Tools, and Accessories (“PTA”). ERS provides rental solutions to utilities and contractors serving multiple infrastructure end-markets, including electric transmission and distribution, telecom, rail, lighting and signage. We rent and sell specialized equipment to utilities and utility contractors that build and maintain critical transmission and distribution infrastructure. Utilizing our national platform and rental fleet, we expanded our focus on equipment rental to the telecom, rail, lighting and signage end-markets. The majority of our existing equipment can be used across multiple end-markets and many of our customers operate in multiple end-markets. We rent and sell a broad range of new and used equipment including bucket trucks, digger derricks, line equipment, cranes, pressure diggers, rail mounted equipment and underground equipment. Our PTA segment offers customers sale and rental solutions for parts, tools, and accessories to complement our specialty equipment line. Our reportable segments align with the information our chief operating decision maker (“CODM”) receives on a regular basis to evaluate the performance of the business and to allocate resources. The accounting principles applied at the operating segment level in determining gross profit are generally the same as those applied at the consolidated financial statement level. There are no inter-segment revenues, and cost allocations to operating segment cost of revenue are minimal; that is, revenue, cost of equipment and parts sold or rented, depreciation of rental equipment and gross profit are directly attributed to each of the operating segments.The following tables present our financial information by segment: Three Months Ended September 30, Three Months Ended September 30, 2019 2018 (in $000s) ERS PTA Total ERS PTA Total Rental revenue $ 46,174 $ 3,929 $ 50,103 $ 43,033 $ 2,834 $ 45,867 Sales of rental equipment 3,436 — 3,436 5,377 — 5,377 Sales of new equipment 1,246 — 1,246 8,024 — 8,024 Parts sales and services — 7,657 7,657 — 4,814 4,814 Total revenues $ 50,856 $ 11,586 $ 62,442 $ 56,434 $ 7,648 $ 64,082 Cost of revenue and sales, excluding depreciation 16,878 6,393 23,271 24,240 4,420 28,660 Depreciation of rental equipment 16,849 1,058 17,907 14,271 937 15,208 Gross profit $ 17,129 $ 4,135 $ 21,264 $ 17,923 $ 2,291 $ 20,214 Nine Months Ended September 30, Nine Months Ended September 30, 2019 2018 (in $000s) ERS PTA Total ERS PTA Total Rental revenue $ 132,735 $ 11,136 $ 143,871 $ 128,363 $ 8,415 $ 136,778 Sales of rental equipment 15,167 — 15,167 15,562 — 15,562 Sales of new equipment 8,076 — 8,076 12,167 — 12,167 Parts sales and services — 19,675 19,675 — 13,102 13,102 Total revenues $ 155,978 $ 30,811 $ 186,789 $ 156,092 $ 21,517 $ 177,609 Cost of revenue and sales, excluding depreciation 54,663 17,853 72,516 59,265 12,247 71,512 Depreciation of rental equipment 48,829 3,183 52,012 43,888 2,629 46,517 Gross profit $ 52,486 $ 9,775 $ 62,261 $ 52,939 $ 6,641 $ 59,580 Total assets by segment are not disclosed herein because asset by operating segment data is not reviewed by the CODM as the basis to assess performance and allocate resources. Goodwill related to our ERS segment and PTA segment was $223.5 million and $5.3 million , respectively, as of September 30, 2019 and December 31, 2018 . Gross profit is the primary operating result whereby our segments are evaluated for performance and resource allocation. The following table presents a reconciliation of segment gross profit to consolidated loss before income taxes: Three Months Ended September 30, Nine Months Ended September 30, (in $000s) 2019 2018 2019 2018 Gross profit $ 21,264 $ 20,214 $ 62,261 $ 59,580 Transaction expenses 3,325 127 7,394 163 Selling, general and administrative expenses 10,514 8,369 26,634 26,085 Amortization expense 724 720 2,172 2,103 Non-rental depreciation 21 58 92 161 Asset impairment 657 — 657 — Other operating expenses 434 — 1,213 — Loss on extinguishment of debt 4,005 — 4,005 — Interest expense, net 16,533 14,196 46,376 41,649 Other (income) expense 2,567 (42 ) 2,545 286 Loss before income taxes $ (17,516 ) $ (3,214 ) $ (28,827 ) $ (10,867 ) We are positioned to serve all 50 U.S. states, 13 Canadian provinces and territories and 31 Mexican states using our network of locations in North America. The following tables present revenue by country and total assets by country: Three Months Ended September 30, Nine Months Ended September 30, (in $000s) 2019 2018 2019 2018 Revenue: United States $ 60,115 $ 62,504 $ 181,248 $ 171,401 Canada 1,918 1,259 4,599 4,722 Mexico (1) 409 319 942 1,486 $ 62,442 $ 64,082 $ 186,789 $ 177,609 (1) On September 27, 2019, the Company began commencing activities for the closure of its Mexican operations, which is part of the ERS segment. For the three and nine months ended September 30, 2019, Mexico generated a loss before income taxes of $2.0 million and $3.8 million , respectively, which includes an impairment loss of $0.7 million and a charge for statutorily required termination benefits of $0.2 million (see Note 1) in 2019. For the three and nine months ended September 30, 2018, Mexico generated a loss before income taxes of $0.3 million and $1.2 million , respectively. (in $000s) September 30, 2019 December 31, 2018 Assets: United States $ 722,666 $ 669,942 Canada 8,758 11,923 Mexico 7,609 9,691 $ 739,033 $ 691,556

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Note 4: Debt Debt obligations and associated interest rates consisted of the following as of September 30, 2019 and December 31, 2018 : (in S000s) September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 2019 Credit Facility $ 193,000 $ — 4.1 % Senior Secured Notes due 2024 475,000 — 10.0 % Revolving Credit Facility (1) — 209,000 5.2 % Tranche B Revolving Credit Commitments (1) — 25,000 9.5 % Senior Secured Notes due 2021 (1) — 525,000 6.9 % Notes Payable 3,603 5,952 Total debt outstanding 671,603 764,952 Deferred finance fees (14,927 ) (5,549 ) Net debt 656,676 759,403 Less current maturities (1,280 ) (2,531 ) Long-term debt $ 655,396 $ 756,872 (1) Repaid on July 31, 2019 On July 31, 2019 , the amounts outstanding under the Revolving Credit Facility, Tranche B Revolving Credit Commitments, and Senior Secured Second Lien Notes due 2021 were extinguished. In connection with the extinguishment, unamortized deferred financing fees were written-off. The loss on extinguishment of debt aggregated $4.0 million . 2019 Credit Facility On June 26, 2019, the Company entered into a secured asset based loan agreement ("2019 Credit Facility"), consisting of a $350.0 million first lien senior secured asset based revolving credit facility with a maturity of five years , which includes borrowing capacity available for letters of credit and borrowings on same-day notice. The Company incurred $4.8 million in connection with the closing of the 2019 Credit Facility. This amount has been recorded as a reduction to the carrying value in the Unaudited Condensed Consolidated Balance Sheets and will be amortized over the term of the 2019 Credit Facility. Borrowing under the 2019 Credit Facility are limited to certain borrowing base calculations that vary with eligible accounts receivable, inventory, and eligible rental equipment. As of September 30, 2019 , there was $82.0 million in borrowing availability under the 2019 Credit Facility. The interest rate per annum applicable to loans under the 2019 Credit Facility is, at the Company's option, equal to either an alternate base rate or an adjusted LIBOR rate (which, at the Company's option is available for a one-, two-, three-, or six- month interest period, or a twelve-month or period of less than one month if available from all relevant affected lenders) in each case, plus an applicable margin (such applicable margin to vary with the amount outstanding under the 2019 Credit Facility). The alternate base rate will be the greater of (i) the prime commercial lending rate published by The Wall Street Journal, (ii) the Federal Funds Effective Rate, plus 0.50% , (iii) the adjusted LIBOR rate for an interest period of one month plus 1.00% and (iv) 1.00% . The adjusted LIBOR rate will be the London interbank offered rate for eurodollar deposits for a period equal to the applicable interest period on the Reuters Screen LIBOR01 or LIBOR02 Page, as applicable, adjusted for statutory reserve requirements for eurocurrency liabilities and in no event, shall the adjusted LIBOR Rate be less than 0.00% . The ability to draw under the 2019 Credit Facility or issue letters of credit thereunder will be conditioned upon, among other things, delivery of prior written notice of a borrowing or issuance, as applicable, the ability to reaffirm the representations and warranties contained in in the 2019 Credit Facility agreement and the absence of any default or event of default under the 2019 Credit Facility. The Company is required to pay a commitment fee to the lenders under the 2019 Credit Facility with respect to the unutilized commitments thereunder at a rate equal to 0.375% per annum (subject to reductions based upon the amount outstanding under the 2019 Credit Facility). The Company will also pay customary letter of credit and agency fees. The balance outstanding on the 2019 Credit Facility will be payable on the earlier of July 31, 2024 or, if the Senior Secured Notes due 2024 remain outstanding and are outstanding on May 1, 2024, May 1, 2024. The Company will be required to repay outstanding loans under the 2019 Credit Facility if the outstanding loans under the 2019 Credit Facility exceed the lesser of (x) the borrowing base and (y) the commitments under the 2019 Credit Facility (the “Line Cap”). Additionally, the Company may voluntarily repay outstanding loans under the 2019 Credit Facility at any time without premium or penalty other than customary “breakage” costs with respect to eurocurrency loans. All obligations under the 2019 Credit Facility are unconditionally guaranteed by each of the Company’s existing and future direct and indirect wholly owned domestic restricted subsidiaries (the “2019 Credit Facility Guarantors”), in each case subject to certain exceptions and permitted liens. All obligations under the 2019 Credit Facility and the guarantees of those obligations (as well as any interest-hedging or other swap agreements and cash management arrangements with the lenders and/or their affiliates under the 2019 Credit Facility) are secured by (subject to certain exceptions): (i) a first priority pledge by the Company of all of the equity interests of restricted subsidiaries directly owned by the Company and the 2019 Credit Facility Guarantors (limited to 65% of voting capital stock in the case of foreign subsidiaries owned directly by a U.S. subsidiary and subject to certain other exceptions) and subject to certain exceptions in the case of non-wholly owned subsidiaries and (ii) a first priority security interest in substantially all of the Company's present and after-acquired assets, as well as those of each of the 2019 Credit Facility Guarantors, all of the Company's proceeds and the proceeds of the 2019 Credit Facility Guarantors and all intercompany indebtedness owed to the Company and the 2019 Credit Facility Guarantors. The 2019 Credit Facility is subject to covenants that, among other things, limit the Company's ability and its restricted subsidiaries’ ability to: incur additional indebtedness; pay dividends, redeem stock or make other distributions; repurchase, prepay or redeem subordinated indebtedness; make investments; create restrictions on the ability of the Company's restricted subsidiaries to pay dividends to the Company; create liens; transfer or sell assets; consolidate, merge, sell or otherwise dispose of all or substantially all of the Company’s assets; enter into certain transactions with the Company's affiliates; and designate subsidiaries as unrestricted subsidiaries. In addition, the 2019 Credit Facility will require the Company to comply with a financial maintenance covenant requiring the Company and its restricted subsidiaries to maintain a fixed charge coverage ratio of at least 1.00 to 1.00; provided that this covenant shall only be tested if availability under the 2019 Credit Facility is less than the greater of (i) 10% of the Line Cap and (ii) $30 million and shall be tested until availability is no longer less than such amounts for 20 consecutive calendar days. Senior Secured Notes due 2024 In connection with the closing of the Transactions, on July 31, 2019 we completed a private offering for Senior Secured Second Lien Notes due 2024 (the "Senior Secured Notes") issued by Capitol Investment Merger Sub 2, LLC, our wholly owned and indirect subsidiary (the "Issuer"). The aggregate principal amount of the Senior Secured Notes was $475.0 million . The Senior Secured Notes bear interest at a rate of 10.0% per annum payable semi-annually, in cash in arrears, on February 1 and August 1 of each year, commencing on February 1, 2020. The Senior Secured Notes do not have registration rights. A summary of the key provisions are as follows: Guarantors - The Senior Secured Notes are guaranteed (the “Guarantees”) by Capitol Intermediate Holdings, LLC, our wholly owned subsidiary ("Holdings") and the wholly owned domestic subsidiaries of the Issuer (together, "Guarantors") that guarantee obligations under the 2019 Credit Facility or any future debt of Nesco or any other Guarantors. Security - The Senior Secured Notes and the Guarantees are secured on a second-priority basis by all assets of Nesco and the Guarantors that secure our obligations under the 2019 Credit Facility. Ranking - The Senior Secured Notes and the Guarantees are general senior secured obligations. The Senior Secured Notes rank equally in right of payment with all of our existing and future senior debt and rank senior in right of payment to all of our future subordinated obligations. The Guarantees rank equally in right of payment with all of the Guarantors’ existing and future senior obligations and rank senior in right of payment to all of the Guarantors’ existing and future subordinated obligations. The Senior Secured Notes and the Guarantees rank effectively subordinated to all of the Guarantors’ and our first-priority secured debt, including borrowings under the 2019 Credit Facility. Redemption and Repurchase - The Senior Secured Notes are redeemable, in whole or in part, at any time on or after the Closing Date at specified redemption prices. At any time prior to August 1, 2021, we may redeem all or part of the notes at a redemption price equal to 100.0% of the principal amount, plus an applicable premium, plus accrued and unpaid interest, if any, to the redemption date. We may also redeem some or all of the notes: from August 1, 2021, but before July 31, 2022, at a redemption price of 105.0% of the principal amount plus accrued and unpaid interest, if any, to the redemption date; from August 1, 2022, but before July 31, 2023, at a redemption price of 102.5% of the principal amount plus accrued and unpaid interest, if any, to the redemption date; and after August 1, 2023, at a redemption price of 100.0% of the principal amount plus accrued and unpaid interest, if any, to the redemption date. In addition, we may redeem up to 40.0% of the Senior Secured Notes until August 1, 2021, at a redemption price of 110.0% of the principal amount plus accrued and unpaid interest, if any, to the redemption date, with the net cash proceeds from one or more equity offerings. In addition, we may be required to make an offer to purchase the Senior Secured Notes upon the sale of certain assets and upon a change of control. Covenants - The Senior Secured Notes contain various restrictive covenants. As of September 30, 2019 , we believe we were in compliance with all of the covenants and other provisions of the 2019 Credit Facility and the indenture governing the Senior Secured Notes disclosed above. Any failure to be in compliance with any material provision or covenant of these agreements could have a material adverse effect on our liquidity and operations. As of September 30, 2019 , the principal payments of debt outstanding over the next five years and thereafter were as follows: (in $000s) Notes Payable Long-Term Debt 2020 $ 1,280 $ — 2021 1,280 — 2022 627 — 2023 416 — 2024 — 668,000 Thereafter — — Total 3,603 668,000 Less unamortized discount and issuance costs — (14,927 ) $ 3,603 $ 653,073

Equity

Equity	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Equity	Note 5: Equity Preferred Stock The Company is authorized to issue 5,000,000 shares of preferred stock with a par value of $0.0001 per share with such designation, rights and preferences as may be determined from time to time by the Company's board of directors. As of September 30, 2019 and December 31, 2018, there are no shares of preferred stock issued or outstanding. Common Stock The Company is authorized to issue 250,000,000 shares of common stock with a par value of $0.0001 per share. The sponsors of Capitol agreed to sale restrictions on 3,148,202 of the shares of common stock issued to them in exchange for their Class B ordinary shares of Capitol upon consummation of the Transactions. The parties agreed to a restriction on transfers of their respective shares of Nesco until the 180-day anniversary of the closing of the Transactions, subject to certain permitted transfers. Concurrently with the Merger, and in a private placement, Nesco Owner and its affiliates purchased 4,500,000 newly-issued shares of common stock at a price of $10.00 per share in exchange for a combination of cash and full repayment of the Company's Tranche B Revolving Credit Commitments, and Capitol Sponsors purchased in aggregate 1,000,000 newly-issued shares of common stock at a price of $10.00 per share, paid in cash. Warrants There are outstanding warrants to purchase 20,949,980 shares of our common stock. As part of the Transactions, Nesco Owner and certain members of Nesco's management received warrants to purchase 2,500,000 shares of our common stock (such warrants, together with warrants held by the Capitol Sponsor, the "Non-Public Warrants"). On the date of the Transactions, each warrant had a fair value of $1.04 . Each warrant entitles the holder to purchase one common share at a price of $11.50 per share, subject to certain adjustments. The warrants are exercisable commencing on the later of 30 days after the Merger and terminate on the earlier to occur of (i) July 31, 2024, and (ii) the redemption date. Except for the Non-Public Warrants, the Company may redeem the warrants at a price of $0.01 per warrant upon 30 days’ notice, only in the event that the last sale price of the common shares is at least $18.00 per share for any 20 trading days within a 30 -trading day period ending on the third day prior to the date on which notice of redemption is given. If the Company redeems the warrants as described above, the holder may elect to exercise a warrant on a “cashless basis.” The redemption rights do not apply to the Non-Public Warrants if at the time of the redemption such Non-Public Warrants continue to be held by the holders as of July 31, 2019, or their affiliates or permitted transferees; however, once such Non-Public Warrants are transferred (other than to an affiliate or permitted transferee), the Company may redeem the Non-Public Warrants. The Company accounts for the warrants as freestanding equity-classified instruments because the Company has the ability to settle with holders of the warrants either by net-share or physical settlement. Contingently Issuable Shares Nesco Owner also has the right to receive: (1) up to an additional 1,800,000 shares of Common Stock for a period of five years following the closing of the Transactions, in increments of 900,000 shares, if (x) the trading price of the Common Stock exceeds $13.00 per share or $16.00 per share for any 20 trading days during a 30 consecutive trading day period or (y) a sale transaction of the combined company occurs in which the consideration paid per share to holders of Common Stock of the combined company exceeds $13.00 per share or $16.00 per share, and (2) an additional 1,651,798 shares of Common Stock if during the seven-year period following the closing of the Transactions, the trading price of Common Stock exceeds $19.00 per share for any 20 trading days during a 30 consecutive trading day period or if a sale transaction of the combined company occurs in which the consideration paid per share to holders of Common Stock exceeds $19.00

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Note 6: Earnings per Share The Transactions were accounted for as a reverse recapitalization. Earnings per share has been recast for all historical periods to reflect the Company's capital structure for all comparative periods. Diluted net income (loss) per share includes the effects of potentially dilutive shares of common stock. Potentially dilutive effects include the exercise of warrants, contingently issuable shares, and share-based compensation, all of which have been excluded from the calculation of diluted net income (loss) per share because earnings are at a net loss and therefore, the potentially dilutive effect would be anti-dilutive. The share amounts of our potentially dilutive shares excluded aggregated 26.6 million . The following table sets forth the computation of basic and dilutive loss per share: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net loss (in $000s) $ (18,010 ) $ (3,677 ) $ (30,157 ) $ (12,120 ) Weighted-average basic and diluted shares outstanding: Shares issued in reverse capitalization 21,660,638 21,660,638 21,660,638 21,660,638 Shares outstanding post-recapitalization 49,033,903 — 49,033,903 — Weighted-average basic and diluted shares outstanding 39,909,481 21,660,638 27,743,586 21,660,638 Basic and diluted net loss per share $ (0.45 ) $ (0.17 ) $ (1.09 ) $ (0.56 )

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Note 7: Share-Based Compensation During the second quarter ended June 30, 2019, the Company approved the 2019 Omnibus Incentive Plan ("the Plan"), which authorized up to 3,150,000 shares of common stock of Nesco Holdings, Inc. for issuance in accordance with the plan’s terms, subject to certain adjustments. The purpose of the Plan is to provide the Company's and its subsidiaries’ officers, directors, employees and consultants who, by their position, ability and diligence, are able to make important contributions to the Company’s growth and profitability, with an incentive to assist the Company in achieving its long-term corporate objectives, to attract and retain executive officers and other employees of outstanding competence and to provide such persons with an opportunity to acquire an equity interest in the Company. To accomplish these objectives, the Plan provides for awards of equity‑based incentives through granting of restricted stock units, stock options, stock appreciation rights and other stock or cash based awards. At September 30, 2019 , there were 1,636,666 shares in the share reserve still available for issuance. Prior to the completion of the Transactions, Holdings I had awards issued to certain employees comprised of phantom shares and profits interests in Former Nesco Owner. Substantially all of these awards were canceled on the Closing Date. The Company records share-based compensation awards using a fair value method and recognizes compensation expense for an amount equal to the fair value of the share-based payment issued in its financial statements. The Company’s share-based compensation plans include programs for stock options, restricted stock units ("RSUs"), performance share units ("PSUs"), and deferred compensation. Compensation Expense Share-based compensation expense was $0.3 million for the three and nine months ended September 30, 2019 , and is included in selling, general, and administrative expenses within the unaudited condensed consolidated statements of operations. Stock Options / RSUs Eligible participants may receive (i) stock options, (ii) RSUs or (iii) a combination of both stock options and RSUs. Grants issued during the nine months ended September 30 were as follows: 2019 Number granted Weighted-average fair value per award Stock options 1,513,334 $ 3.14 RSUs 656,666 $ 6.98 The fair value of each of the Company's stock option and RSU awards is expensed on a straight-line basis over the required service period, which is generally the three-year vesting period. The average fair value of the stock options granted is determined using the Black-Scholes and binomial lattice option-pricing models. The following assumptions were used during the nine months ended September 30: 2019 Dividend yield 0.00 % Volatility 47.00 % Risk-free rate of return 1.58 % Expected life, in years 6 Expected volatility is based on the weighted-average combination of the Company's historic volatility and of the implied volatility of a group of the Company’s peers. The risk-free rate of return is based on the yield curve of a zero-coupon U.S. Treasury bond on the date the award is granted with a maturity equal to the expected term of the award. The expected life of the Company’s stock option awards is derived from the simplified approach based on the weighted-average time to vest and the remaining contractual term and represents the period of time that awards are expected to be outstanding.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8: Fair Value Measurements FASB accounting standards provide a comprehensive framework for measuring fair value and sets forth a definition of fair value and establishes a hierarchy prioritizing the inputs to valuation techniques, giving the highest priority to quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable value inputs. Levels within the hierarchy are defined as follows: • Level 1 - Unadjusted quoted prices for identical assets and liabilities in active markets; • Level 2 - Quoted prices for similar assets and liabilities in active markets (other than those included in Level 1) which are observable for the asset or liability, either directly or indirectly; and • Level 3 - Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The following table sets forth the carrying values (exclusive of deferred financing fees) and fair values of our financial liabilities: Fair Value (in $000s) Carrying Value Level 1 Level 2 Level 3 September 30, 2019 2019 Credit Facility $ 193,000 $ — $ 193,000 $ — Senior Secured Notes due 2024 475,000 — 494,000 — Notes Payable 3,603 — 3,650 — Derivative 2,552 — 2,552 — December 31, 2018 Revolving Credit Facility $ 209,000 $ — $ 209,000 $ — Tranche B Revolving Credit Commitments 25,000 — 25,000 — Senior Secured Second Lien Notes due 2021 525,000 — 443,625 — Notes Payable 5,952 — 6,221 — Derivative 396 — 396 —

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Note 9: Financial Instruments In the normal course of business, the Company uses various financial instruments, including derivative instruments, to manage the risks associated with interest rate exposure. These financial instruments are not used for trading or speculative purposes. The fair values of derivative instruments included within the Unaudited Condensed Consolidated Balance Sheets were as follows: Asset / (Liability) Derivatives (in $000s) Balance Sheet Caption September 30, 2019 December 31, 2018 Derivative instruments: Interest rate collar Other liabilities $ 2,552 $ 422 Total derivative instruments $ 2,552 $ 422 Derivatives Instruments Designated as Hedges When a derivative contract is entered into, the Company may designate the derivative instrument as a cash flow hedge of a forecasted transaction, a cash flow hedge of a recognized asset or liability or as an undesignated derivative. When a derivative is designated, the Company formally documents its hedge relationships, including identification of the derivative instruments and the hedged items, as well as its risk management objectives and strategies for undertaking the hedge transaction. This process includes linking derivative instruments that are designated as hedges to specific assets, liabilities or forecasted transactions. The fair market value of derivative instruments is determined through market-based valuations and may not be representative of the actual gains or losses that will be recorded when these instruments mature due to future fluctuations in the markets in which they are traded. The Company assesses at inception and at least quarterly thereafter, whether the derivatives used in cash flow hedging transactions are effective in offsetting the changes in the cash flows of the hedged item. To the extent the derivative is deemed to be an effective hedge, the fair market value changes of the instrument are recorded to accumulated other comprehensive loss and subsequently reclassified into net loss when the hedged transaction affects earnings. Changes in the fair market value of derivatives not deemed to be an effective hedge are recorded in net loss in the period of change. If the hedging relationship ceases to be effective subsequent to inception, or it becomes probable that a forecasted transaction is no longer expected to occur, the hedging relationship will be undesignated and any future gains and losses on the derivative instrument will be recorded in net loss. We entered into an interest rate collar on December 4, 2018, to hedge the interest rate risk associated with our previous Revolving Credit Facility, which was repaid on the date of the Merger. The interest rate collar was designated as a cash flow hedge and had a term extending to September 30, 2020. In contemplation of the Transactions, on July 17, 2019, we terminated the interest rate collar, which resulted in the hedge becoming undesignated. Accordingly, $0.8 million (net of income taxes of $0.3 million ) was reclassified from accumulated other comprehensive loss to Other income (expense) net, in our Condensed Consolidated Statements of Operations during the three months ended September 30, 2019. The Company recorded in its Unaudited Condensed Consolidated Statements of Operations and Unaudited Condensed Consolidated Balance Sheets the following amounts related to its derivative instruments designated as hedges for the three and nine months ended September 30, : Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Loss Location of Gain (Loss) Recognized in Net Loss Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss and Recognized in Net Loss (in $000s) Type of Derivative 2019 2018 2019 2018 Interest rate collar $ — $ — Other (income) expense $ (1,069 ) $ — Derivatives Not Designated as Hedges Interest Rate Collar On July 17, 2019 , we entered into an interest rate collar agreement to mitigate the risk of changes in the interest rate paid during the contract period for $170.0 million of the Company's variable rate loans under the 2019 Credit Facility. Under the terms of the interest rate collar, we are required to pay the counterparty to the agreement an amount equal to the difference between a monthly LIBOR-based interest rate and a defined interest rate floor; conversely, we are entitled to receive from the counterparty an amount equal to the excess of a LIBOR-based interest rate and a defined interest rate cap. The required payments due to or due from the counterparty are calculated by applying the interest rate differential to the notional amount ( $170.0 million ) and are determined monthly through July 31, 2024. The interest rate collar expires in July 2024 and has not been designated as a cash flow hedge. Consequently, the change in fair value of the interest rate collar ( $2.6 million in the three and nine months ended September 30, 2019 ) is recognized in our Unaudited Condensed Consolidated Statements of Operations. Concentration of Credit Risk The counterparty to the Company’s interest rate collar is an investment grade major international financial institution. The Company could be exposed to losses in the event of nonperformance by the counterparty; however, the credit rating and the concentration of risk in this financial institution are monitored on a continuous basis and present no significant credit risk to the Company.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 10: Commitments and Contingencies We record a liability when we believe that it is both probable that a liability has been incurred and the amount can be reasonably estimated. Significant judgment is required to determine both probability and the estimated amount. We review these provisions at least quarterly and adjust these provisions to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and updated information. Legal Matters We are subject to various claims and legal actions that arise primarily in the ordinary course of business. These matters include, but are not limited to, general liability claims (including personal injury, product liability, property, and auto claims), indemnification and guarantee obligations, employee injuries and employment-related claims, and contract and real estate matters. We maintain insurance coverage for our operations and employees. Our major policies include coverage for property, general liability, auto, directors and officers, health, and workers’ compensation insurances. The ultimate legal and financial liability with respect to such matters generally cannot be estimated with certainty and requires the use of estimates in recording liabilities for potential litigation settlements against us. Estimates for losses from litigation are made after consultation with outside legal counsel. In our opinion, after consultation with legal counsel, the disposition or ultimate resolution of such claims and actions will not have a material adverse effect on our consolidated financial position, results of operations, or cash flows. Purchase Commitments We enter into purchase agreements with manufacturers and suppliers of equipment for our rental fleet and inventory. The majority of these agreements are cancelable within a specified notification period to the supplier. As of September 30, 2019 , we had non-cancelable purchase commitments of $10.6 million and cancelable purchase agreements $67.2 million related to these purchases. These items are scheduled for delivery in the remainder of 2019 and through 2020. We have no purchase commitments beyond 2025 .

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 11: Subsequent Events Acquisition On September 20, 2019 , we entered into a stock purchase agreement with Truck Utilities, Inc. and transferred $1.7 million in cash to an escrow account for the benefit of the sellers. Truck Utilities, Inc. is a specialty rentals, service, and truck upfitting company serving the electric transmission, distribution, telecom, and other regional end-markets. The consummation of the acquisition remained pending for the completion of customary pre-closing activities, which activities concluded on November 4, 2019 . Accordingly, on November 4, 2019 , we closed on the acquisition for a purchase price of approximately $42.2 million , prior to certain capital expenditure adjustments of approximately $3.6 million . The transaction was financed by drawing on the 2019 Credit Facility.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying interim statements of the Company have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X issued by the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments and disclosures necessary for a fair statement of these interim statements have been included. The results reported in these interim statements are not necessarily indicative of the results that may be reported for the entire year or for any other period. These interim statements should be read in conjunction with Holdings I’s audited financial statements for the year ended December 31, 2018, included in Capitol's final prospectus and definitive proxy statement filed with the Securities and Exchange Commission on June 4, 2019 (as supplemented on June 24, 2019 and July 11, 2019) , and incorporated by reference in the Current Report on Form 8-K filed with the SEC on August 1, 2019 . The Transactions were accounted for as a reverse recapitalization in accordance with GAAP. Under this method of accounting, Capitol was treated as the acquired company and Holdings I was treated as the acquirer for financial reporting purposes. Therefore, the consolidated financial results include information regarding Holdings I as Nesco Holdings, Inc.'s predecessor entity. Thus, the financial statements included in this report reflect: (i) the historical operating results of Holdings I prior to the Transactions; (ii) the combined results of Capitol and Holdings I following the Transactions (effectively, Nesco Holdings, Inc.); (iii) the assets, liabilities and stockholder's equity of Holdings I at their historical costs; and (iv) Nesco Holdings, Inc.’s equity and earnings per share presented for the period from the Closing Date of the Transactions.
Use of Estimates	Use of Estimates These consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States, and accordingly, include amounts that require management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and in the notes thereto. Significant items subject to such estimates and assumptions include, but are not limited to, the useful lives and salvage values of our rental equipment. Actual results may differ from these estimates and assumptions. In the opinion of management, these financial statements reflect all normal recurring adjustments necessary for a fair presentation of the interim period results. These consolidated financial statements and notes should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2018 .
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Leases The FASB’s new guidance to account for leases (“Topic 842”) by entities that are lessees, requires (1) recognition of lease assets and lease liabilities on the balance sheet and (2) disclosure of key information about leasing arrangements. Topic 842 provides two classifications for leases: financing or operating. Finance leases - The accounting and recognition for leases qualifying as finance leases is similar to the accounting and recognition required under ASC Topic 840, Leases (“Topic 840”), for capital leases. As of September 30, 2019 , we have capital lease obligations of approximately $29.5 million . When we make our contractually required payments under the capital leases, we allocate a portion to reduce the capital lease obligation and a portion is recognized as interest expense. The assets leased under the capital leases are included in rental equipment, and depreciation thereon is recognized in cost of rental revenue. Operating leases - Under Topic 842, operating leases result in the recognition of right-of-use (“ROU”) assets and lease liabilities on the balance sheet. ROU assets represent our right to use the leased asset for the lease term and lease liabilities represent our obligation to make lease payments. Under Topic 842, operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, upon adoption of Topic 842, we will use our estimated incremental borrowing rate at the commencement date to determine the present value of lease payments. The operating lease ROU assets will also include any lease payments made and exclude lease incentives. Our lease terms may include options to extend or terminate the lease that we are reasonably certain to exercise. Lease expense under Topic 842 will be recognized on a straight-line basis over the lease term. Upon adoption of Topic 842, we expect to recognize operating lease ROU assets and lease liabilities that reflect the present value of these future payments, which we currently estimate to be in the range of $8.0 million to $10.0 million . In October 2019, the FASB approved its proposal to defer the effective date of Topic 842 by one year. Accordingly, we will adopt Topic 842 effective January 1, 2021, using the transition method that allows us to recognize a cumulative-effect adjustment to the opening balance of accumulated deficit in the period of adoption. A modified retrospective approach is required for adoption for all leases that exist at or commence after the date of initial application with an option to use certain practical expedients. We expect to use the package of practical expedients that allows us to not reassess: (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases and (3) initial direct costs for any expired or existing leases. We additionally expect to use the practical expedient that allows lessees to treat the lease and non-lease components of leases as a single lease component. Under Topic 842, lessor accounting will remain substantially similar to the current accounting; however, certain refinements were made to conform the standard with the recently issued revenue recognition guidance in ASC Topic 606, Revenue from Contracts with Customers (“Topic 606”), specifically related to the allocation and recognition of contract consideration earned from lease and non-lease revenue components. On July 30, 2018, the FASB issued ASU 2018-11, which created a practical expedient that provides lessors an option not to separate lease and non-lease components when certain criteria are met and instead account for those components as a single lease component. We are currently in the process of evaluating whether our lease arrangements will meet the criteria under the practical expedient to account for lease and non-lease components as a single lease component, which would alleviate the requirement upon adoption of Topic 842 that we reallocate or separately present lease and non-lease components. Derivatives In August 2017, the FASB issued ASU 2017-12, “ Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities ,” which includes changes to its accounting guidance for derivatives and hedging, which changes both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. Some changes resulting from this new guidance include the elimination of the concept of recognizing periodic hedge ineffectiveness for cash flow hedges, changes to the recognition and presentation of changes in the fair value of the hedging instrument, enhancement of the ability to use the critical-terms-match method for the cash flow hedge of groups of forecasted transactions when the timing of the hedged transactions does not perfectly match the hedging instrument’s maturity date, and the addition of new disclosure requirements and amendments to existing ones. This new guidance is effective for us as of January 1, 2020. We are currently evaluating the impact of the new guidance on our consolidated financial statements. Revenue Recognition Following the adoption of Topic 606, as of January 1, 2018, we recognized revenue in accordance with two different accounting standards: 1) Topic 606 and 2) Topic 840, which addresses lease accounting, for which we will adopt an update to this standard using the modified retrospective approach, as described herein. For the three and nine months ended September 30, 2019 and 2018 , we recognized rental revenue in accordance with Topic 840 Leases, which is the lease accounting standard.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Schedule of Revenue Types Based On Accounting Standard	The inset below presents our revenue types based on the accounting standard used to determine the accounting. Three Months Ended September 30, Three Months Ended September 30, 2019 2018 (in $000s) Topic 840 Topic 606 Total Topic 840 Topic 606 Total Rental: Rental revenue $ 47,821 $ — $ 47,821 $ 43,944 $ — $ 43,944 Shipping and handling — 2,282 2,282 — 1,923 1,923 Total rental revenue 47,821 2,282 50,103 43,944 1,923 45,867 Sales and services: Sales of rental equipment — 3,436 3,436 — 5,377 5,377 Sales of new equipment — 1,246 1,246 — 8,024 8,024 Parts and services — 7,657 7,657 — 4,814 4,814 Total sales and services — 12,339 12,339 — 18,215 18,215 Total revenue $ 47,821 $ 14,621 $ 62,442 $ 43,944 $ 20,138 $ 64,082 Nine Months Ended September 30, Nine Months Ended September 30, 2019 2018 (in $000s) Topic 840 Topic 606 Total Topic 840 Topic 606 Total Rental: Rental revenue $ 137,194 $ — $ 137,194 $ 130,905 $ — $ 130,905 Shipping and handling — 6,677 6,677 — 5,873 5,873 Total rental revenue 137,194 6,677 143,871 130,905 5,873 136,778 Sales and services: Sales of rental equipment — 15,167 15,167 — 15,562 15,562 Sales of new equipment — 8,076 8,076 — 12,167 12,167 Parts and services — 19,675 19,675 — 13,102 13,102 Total sales and services — 42,918 42,918 — 40,831 40,831 Total revenue $ 137,194 $ 49,595 $ 186,789 $ 130,905 $ 46,704 $ 177,609
Schedule of Rental Equipment	Rental equipment consisted of the following: (in $000s) September 30, 2019 December 31, 2018 Rental equipment $ 603,506 $ 541,529 Less: accumulated depreciation (261,636 ) (220,807 ) Rental equipment, net $ 341,870 $ 320,722

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Summary of Financial Information by Segment	The following tables present our financial information by segment: Three Months Ended September 30, Three Months Ended September 30, 2019 2018 (in $000s) ERS PTA Total ERS PTA Total Rental revenue $ 46,174 $ 3,929 $ 50,103 $ 43,033 $ 2,834 $ 45,867 Sales of rental equipment 3,436 — 3,436 5,377 — 5,377 Sales of new equipment 1,246 — 1,246 8,024 — 8,024 Parts sales and services — 7,657 7,657 — 4,814 4,814 Total revenues $ 50,856 $ 11,586 $ 62,442 $ 56,434 $ 7,648 $ 64,082 Cost of revenue and sales, excluding depreciation 16,878 6,393 23,271 24,240 4,420 28,660 Depreciation of rental equipment 16,849 1,058 17,907 14,271 937 15,208 Gross profit $ 17,129 $ 4,135 $ 21,264 $ 17,923 $ 2,291 $ 20,214 Nine Months Ended September 30, Nine Months Ended September 30, 2019 2018 (in $000s) ERS PTA Total ERS PTA Total Rental revenue $ 132,735 $ 11,136 $ 143,871 $ 128,363 $ 8,415 $ 136,778 Sales of rental equipment 15,167 — 15,167 15,562 — 15,562 Sales of new equipment 8,076 — 8,076 12,167 — 12,167 Parts sales and services — 19,675 19,675 — 13,102 13,102 Total revenues $ 155,978 $ 30,811 $ 186,789 $ 156,092 $ 21,517 $ 177,609 Cost of revenue and sales, excluding depreciation 54,663 17,853 72,516 59,265 12,247 71,512 Depreciation of rental equipment 48,829 3,183 52,012 43,888 2,629 46,517 Gross profit $ 52,486 $ 9,775 $ 62,261 $ 52,939 $ 6,641 $ 59,580
Reconciliation of Segment Gross Profit to Consolidated Loss Before Income Taxes	The following table presents a reconciliation of segment gross profit to consolidated loss before income taxes: Three Months Ended September 30, Nine Months Ended September 30, (in $000s) 2019 2018 2019 2018 Gross profit $ 21,264 $ 20,214 $ 62,261 $ 59,580 Transaction expenses 3,325 127 7,394 163 Selling, general and administrative expenses 10,514 8,369 26,634 26,085 Amortization expense 724 720 2,172 2,103 Non-rental depreciation 21 58 92 161 Asset impairment 657 — 657 — Other operating expenses 434 — 1,213 — Loss on extinguishment of debt 4,005 — 4,005 — Interest expense, net 16,533 14,196 46,376 41,649 Other (income) expense 2,567 (42 ) 2,545 286 Loss before income taxes $ (17,516 ) $ (3,214 ) $ (28,827 ) $ (10,867 )
Summary of Revenue by Country	The following tables present revenue by country and total assets by country: Three Months Ended September 30, Nine Months Ended September 30, (in $000s) 2019 2018 2019 2018 Revenue: United States $ 60,115 $ 62,504 $ 181,248 $ 171,401 Canada 1,918 1,259 4,599 4,722 Mexico (1) 409 319 942 1,486 $ 62,442 $ 64,082 $ 186,789 $ 177,609 (1) On September 27, 2019, the Company began commencing activities for the closure of its Mexican operations, which is part of the ERS segment. For the three and nine months ended September 30, 2019, Mexico generated a loss before income taxes of $2.0 million and $3.8 million , respectively, which includes an impairment loss of $0.7 million and a charge for statutorily required termination benefits of $0.2 million (see Note 1) in 2019. For the three and nine months ended September 30, 2018, Mexico generated a loss before income taxes of $0.3 million and $1.2 million , respectively.
Summary of Total Assets by Country	(in $000s) September 30, 2019 December 31, 2018 Assets: United States $ 722,666 $ 669,942 Canada 8,758 11,923 Mexico 7,609 9,691 $ 739,033 $ 691,556

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Debt Obligations	Debt obligations and associated interest rates consisted of the following as of September 30, 2019 and December 31, 2018 : (in S000s) September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 2019 Credit Facility $ 193,000 $ — 4.1 % Senior Secured Notes due 2024 475,000 — 10.0 % Revolving Credit Facility (1) — 209,000 5.2 % Tranche B Revolving Credit Commitments (1) — 25,000 9.5 % Senior Secured Notes due 2021 (1) — 525,000 6.9 % Notes Payable 3,603 5,952 Total debt outstanding 671,603 764,952 Deferred finance fees (14,927 ) (5,549 ) Net debt 656,676 759,403 Less current maturities (1,280 ) (2,531 ) Long-term debt $ 655,396 $ 756,872 (1) Repaid on July 31, 2019
Schedule of Principal Payments of Debt	As of September 30, 2019 , the principal payments of debt outstanding over the next five years and thereafter were as follows: (in $000s) Notes Payable Long-Term Debt 2020 $ 1,280 $ — 2021 1,280 — 2022 627 — 2023 416 — 2024 — 668,000 Thereafter — — Total 3,603 668,000 Less unamortized discount and issuance costs — (14,927 ) $ 3,603 $ 653,073

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Computation of Basic and Dilutive Loss Per Share	The following table sets forth the computation of basic and dilutive loss per share: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net loss (in $000s) $ (18,010 ) $ (3,677 ) $ (30,157 ) $ (12,120 ) Weighted-average basic and diluted shares outstanding: Shares issued in reverse capitalization 21,660,638 21,660,638 21,660,638 21,660,638 Shares outstanding post-recapitalization 49,033,903 — 49,033,903 — Weighted-average basic and diluted shares outstanding 39,909,481 21,660,638 27,743,586 21,660,638 Basic and diluted net loss per share $ (0.45 ) $ (0.17 ) $ (1.09 ) $ (0.56 )

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Grants Issued	Grants issued during the nine months ended September 30 were as follows: 2019 Number granted Weighted-average fair value per award Stock options 1,513,334 $ 3.14 RSUs 656,666 $ 6.98
Schedule of Assumptions Used in Black-Scholes Option-Pricing Model	The following assumptions were used during the nine months ended September 30: 2019 Dividend yield 0.00 % Volatility 47.00 % Risk-free rate of return 1.58 % Expected life, in years 6

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Carrying Values and Fair Values of Financial Liabilities	The following table sets forth the carrying values (exclusive of deferred financing fees) and fair values of our financial liabilities: Fair Value (in $000s) Carrying Value Level 1 Level 2 Level 3 September 30, 2019 2019 Credit Facility $ 193,000 $ — $ 193,000 $ — Senior Secured Notes due 2024 475,000 — 494,000 — Notes Payable 3,603 — 3,650 — Derivative 2,552 — 2,552 — December 31, 2018 Revolving Credit Facility $ 209,000 $ — $ 209,000 $ — Tranche B Revolving Credit Commitments 25,000 — 25,000 — Senior Secured Second Lien Notes due 2021 525,000 — 443,625 — Notes Payable 5,952 — 6,221 — Derivative 396 — 396 —

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments Within Condensed and Consolidated Balance Sheets	The fair values of derivative instruments included within the Unaudited Condensed Consolidated Balance Sheets were as follows: Asset / (Liability) Derivatives (in $000s) Balance Sheet Caption September 30, 2019 December 31, 2018 Derivative instruments: Interest rate collar Other liabilities $ 2,552 $ 422 Total derivative instruments $ 2,552 $ 422
Schedule of Derivatives Designated as Hedging	The Company recorded in its Unaudited Condensed Consolidated Statements of Operations and Unaudited Condensed Consolidated Balance Sheets the following amounts related to its derivative instruments designated as hedges for the three and nine months ended September 30, : Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Loss Location of Gain (Loss) Recognized in Net Loss Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss and Recognized in Net Loss (in $000s) Type of Derivative 2019 2018 2019 2018 Interest rate collar $ — $ — Other (income) expense $ (1,069 ) $ —

Business (Details)

Business (Details) $ / shares in Units, $ in Thousands	Jul. 31, 2019USD ($)$ / sharesshares	Sep. 30, 2019USD ($)stateshares	Sep. 30, 2019locationstateshares	Dec. 31, 2018shares
Business Acquisition [Line Items]
Number of network locations | location			50
Contributed capital from reverse capitalization | $		$ 172,269
Common stock, issued (in shares)	49,033,903	49,033,903	49,033,903	21,660,638
Common stock, outstanding (in shares)	49,033,903	49,033,903	49,033,903	21,660,638
Warrants To Purchase Common Stock
Business Acquisition [Line Items]
Number of securities called by issued warrants	20,949,980
Additional Paid-in Capital
Business Acquisition [Line Items]
Contributed capital from reverse capitalization | $	$ 172,300	$ 172,266
Capitol Sponsors | Private Placement
Business Acquisition [Line Items]
Shares purchased (in shares)	1,000,000
Price per share (in dollars per share) | $ / shares	$ 10
Nesco Owner | Private Placement
Business Acquisition [Line Items]
Shares purchased (in shares)	4,500,000
Price per share (in dollars per share) | $ / shares	$ 10
Capitol | Nesco Holdings, Inc.
Business Acquisition [Line Items]
Ownership percentage	47.00%
Capitol | Nesco Owner
Business Acquisition [Line Items]
Trust account balance | $	$ 412,300
Transaction expenses | $	17,800
Payments for equity issuance costs | $	$ 10,000
Capitol | Nesco Owner | Common Stock
Business Acquisition [Line Items]
Business acquisition shares received (in shares)	21,660,638
Contingent consideration, additional shares (up to) (in shares)	3,451,798
Capitol | Nesco Owner | Warrant
Business Acquisition [Line Items]
Business acquisition shares received (in shares)	2,500,000
Nesco Owner
Business Acquisition [Line Items]
Transaction expenses | $	$ 10,200
Repayments of third party debt | $	$ 127,800
Nesco Owner | Nesco Holdings, Inc.
Business Acquisition [Line Items]
Ownership percentage	53.00%
Class A Ordinary Shares | Capitol | Nesco Owner
Business Acquisition [Line Items]
Conversion of stock, shares converted (in shares)	26,091,034
Common stock, conversion price (in dollars per share) | $ / shares	$ 10.24
Proceeds from conversion of stock | $	$ 267,200
United States
Business Acquisition [Line Items]
Number of states positioned to serve | state		50	50
Canada
Business Acquisition [Line Items]
Number of states positioned to serve | state		13	13

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	Sep. 27, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2021
Revenue from External Customer [Line Items]
Capital lease obligations		$ 29,500		$ 29,500
Revenues		14,621	$ 20,138	49,595	$ 46,704
Major repair disposal expense		376	300	1,522	1,061
Impairment loss		657	0	657	0
Statutorily-required minimum benefits charge	$ 200
Forecast | Minimum
Revenue from External Customer [Line Items]
ROU assets								$ 8,000
Operating lease liability								8,000
Forecast | Maximum
Revenue from External Customer [Line Items]
ROU assets								10,000
Operating lease liability								$ 10,000
Rental revenue
Revenue from External Customer [Line Items]
Revenues		2,282	1,923	6,677	5,873
Rental revenue | Reclassification Adjustment
Revenue from External Customer [Line Items]
Revenues			900		2,500	$ 3,200	$ 2,600
Parts sales and services
Revenue from External Customer [Line Items]
Revenues		7,657	4,814	19,675	13,102
Parts sales and services | Reclassification Adjustment
Revenue from External Customer [Line Items]
Revenues			(900)		(2,500)	(3,200)	(2,600)
Rental Equipment
Revenue from External Customer [Line Items]
Revenues		3,436	5,377	15,167	15,562	26,000	17,200
New Equipment
Revenue from External Customer [Line Items]
Revenues		$ 1,246	$ 8,024	$ 8,076	$ 12,167	$ 18,400	$ 10,100
Assets Leased to Others
Revenue from External Customer [Line Items]
Impairment loss	$ 700

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Revenue from External Customer [Line Items]
Topic 840	$ 47,821	$ 43,944	$ 137,194	$ 130,905
Topic 606	14,621	20,138	49,595	46,704
Total	62,442	64,082	186,789	177,609
Rental revenue
Revenue from External Customer [Line Items]
Topic 840	47,821	43,944	137,194	130,905
Topic 606	2,282	1,923	6,677	5,873
Total	50,103	45,867	143,871	136,778
Rental Revenue, Excluding Shipping And Handling
Revenue from External Customer [Line Items]
Topic 840	47,821	43,944	137,194	130,905
Topic 606	0	0	0	0
Total	47,821	43,944	137,194	130,905
Rental Revenue, Shipping And Handling
Revenue from External Customer [Line Items]
Topic 840	0	0	0	0
Topic 606	2,282	1,923	6,677	5,873
Total	2,282	1,923	6,677	5,873
Sales and services
Revenue from External Customer [Line Items]
Topic 840	0	0	0	0
Topic 606	12,339	18,215	42,918	40,831
Total	12,339	18,215	42,918	40,831
Sales of rental equipment
Revenue from External Customer [Line Items]
Topic 840	0	0	0	0
Topic 606	3,436	5,377	15,167	15,562	$ 26,000	$ 17,200
Total	3,436	5,377	15,167	15,562
Sales of new equipment
Revenue from External Customer [Line Items]
Topic 840	0	0	0	0
Topic 606	1,246	8,024	8,076	12,167	$ 18,400	$ 10,100
Total	1,246	8,024	8,076	12,167
Parts sales and services
Revenue from External Customer [Line Items]
Topic 840	0	0	0	0
Topic 606	7,657	4,814	19,675	13,102
Total	$ 7,657	$ 4,814	$ 19,675	$ 13,102

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Rental Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Rental equipment	$ 603,506	$ 541,529
Less: accumulated depreciation	(261,636)	(220,807)
Rental equipment, net	$ 341,870	$ 320,722

Segments - Additional Informati

Segments - Additional Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)statesegment	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2
Goodwill | $	$ 228,714	$ 228,714
ERS
Segment Reporting Information [Line Items]
Goodwill | $	223,500	223,500
PTA
Segment Reporting Information [Line Items]
Goodwill | $	$ 5,300	$ 5,300
United States
Segment Reporting Information [Line Items]
Number of states positioned to serve | state	50
Canada
Segment Reporting Information [Line Items]
Number of states positioned to serve | state	13
Mexico
Segment Reporting Information [Line Items]
Number of states positioned to serve | state	31

Segments - Financial Informatio

Segments - Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Rental revenue	$ 62,442	$ 64,082	$ 186,789	$ 177,609
Cost of revenue and sales, excluding depreciation	23,271	28,660	72,516	71,512
Depreciation of rental equipment	17,907	15,208	52,012	46,517
Gross Profit	21,264	20,214	62,261	59,580
ERS
Segment Reporting Information [Line Items]
Rental revenue	50,856	56,434	155,978	156,092
Cost of revenue and sales, excluding depreciation	16,878	24,240	54,663	59,265
Depreciation of rental equipment	16,849	14,271	48,829	43,888
Gross Profit	17,129	17,923	52,486	52,939
PTA
Segment Reporting Information [Line Items]
Rental revenue	11,586	7,648	30,811	21,517
Cost of revenue and sales, excluding depreciation	6,393	4,420	17,853	12,247
Depreciation of rental equipment	1,058	937	3,183	2,629
Gross Profit	4,135	2,291	9,775	6,641
Rental revenue
Segment Reporting Information [Line Items]
Rental revenue	50,103	45,867	143,871	136,778
Cost of revenue and sales, excluding depreciation	13,332	13,686	36,802	37,511
Rental revenue | ERS
Segment Reporting Information [Line Items]
Rental revenue	46,174	43,033	132,735	128,363
Rental revenue | PTA
Segment Reporting Information [Line Items]
Rental revenue	3,929	2,834	11,136	8,415
Sales of rental equipment
Segment Reporting Information [Line Items]
Rental revenue	3,436	5,377	15,167	15,562
Cost of revenue and sales, excluding depreciation	2,847	4,041	12,653	13,053
Sales of rental equipment | ERS
Segment Reporting Information [Line Items]
Rental revenue	3,436	5,377	15,167	15,562
Sales of rental equipment | PTA
Segment Reporting Information [Line Items]
Rental revenue	0	0	0	0
Sales of new equipment
Segment Reporting Information [Line Items]
Rental revenue	1,246	8,024	8,076	12,167
Cost of revenue and sales, excluding depreciation	1,116	7,287	6,618	10,639
Sales of new equipment | ERS
Segment Reporting Information [Line Items]
Rental revenue	1,246	8,024	8,076	12,167
Sales of new equipment | PTA
Segment Reporting Information [Line Items]
Rental revenue	0	0	0	0
Parts sales and services
Segment Reporting Information [Line Items]
Rental revenue	7,657	4,814	19,675	13,102
Cost of revenue and sales, excluding depreciation	5,600	3,346	14,921	9,248
Parts sales and services | ERS
Segment Reporting Information [Line Items]
Rental revenue	0	0	0	0
Parts sales and services | PTA
Segment Reporting Information [Line Items]
Rental revenue	$ 7,657	$ 4,814	$ 19,675	$ 13,102

Segments - Reconciliation of Se

Segments - Reconciliation of Segment Gross Profit (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting [Abstract]
Gross profit	$ 21,264	$ 20,214	$ 62,261	$ 59,580
Transaction expenses	3,325	127	7,394	163
Selling, general, and administrative expenses	10,514	8,369	26,634	26,085
Amortization expense	724	720	2,172	2,103
Non-rental depreciation	21	58	92	161
Asset impairment	657	0	657	0
Other operating expenses	434	0	1,213	0
Loss on extinguishment of debt	4,005	0	4,005	0
Interest expense, net	16,533	14,196	46,376	41,649
Other (income) expense	2,567	(42)	2,545	286
Loss Before Income Taxes	$ (17,516)	$ (3,214)	$ (28,827)	$ (10,867)

Segments - Revenue and Assets b

Segments - Revenue and Assets by Country (Details) - USD ($) $ in Thousands	Sep. 27, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Rental revenue		$ 62,442	$ 64,082	$ 186,789	$ 177,609
Loss before income taxes		17,516	3,214	28,827	10,867
Asset impairment		657	0	657	0
Statutorily-required minimum benefits charge	$ 200
Assets		739,033		739,033		$ 691,556
United States
Segment Reporting Information [Line Items]
Rental revenue		60,115	62,504	181,248	171,401
Assets		722,666		722,666		669,942
Canada
Segment Reporting Information [Line Items]
Rental revenue		1,918	1,259	4,599	4,722
Assets		8,758		8,758		11,923
Mexico
Segment Reporting Information [Line Items]
Rental revenue		409	319	942	1,486
Loss before income taxes		2,000	$ 300	3,800	$ 1,200
Asset impairment		700		700
Statutorily-required minimum benefits charge		200		200
Assets		$ 7,609		$ 7,609		$ 9,691

Debt Schedule of Debt Obligatio

Debt Schedule of Debt Obligations (Details) - USD ($)	Sep. 30, 2019	Jul. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total debt outstanding	$ 671,603,000		$ 764,952,000
Deferred finance fees	(14,927,000)		(5,549,000)
Net debt	656,676,000		759,403,000
Current maturities of long-term debt	(1,280,000)		(2,531,000)
Long-term debt, net	$ 655,396,000		756,872,000
Senior Notes | Senior Secured Notes due 2024
Debt Instrument [Line Items]
Debt interest rate	10.00%	10.00%
Debt Instrument, Face Amount		$ 475,000,000
Total debt outstanding	$ 475,000,000		$ 0
Senior Notes | Senior Secured Notes due 2021
Debt Instrument [Line Items]
Debt interest rate			6.90%
Total debt outstanding	0		$ 525,000,000
Notes Payable
Debt Instrument [Line Items]
Total debt outstanding	3,603,000		$ 5,952,000
Deferred finance fees	0
Net debt	3,603,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Debt interest rate			5.20%
Total debt outstanding	$ 0		$ 209,000,000
Revolving Credit Facility | Line of Credit | 2019 Credit Facility
Debt Instrument [Line Items]
Debt interest rate	4.10%
Total debt outstanding	$ 193,000,000		$ 0
Revolving Credit Facility | Line of Credit | Tranche B Revolving Credit Commitments
Debt Instrument [Line Items]
Debt interest rate			9.50%
Total debt outstanding	$ 0		$ 25,000,000

Debt (Details)

Debt (Details)	Jul. 31, 2019USD ($)	Jun. 26, 2019USD ($)day	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 4,005,000	$ 0	$ 4,005,000	$ 0
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt interest rate							5.20%
Line of Credit | 2019 Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity		$ 350,000,000
Debt instrument term		5 years
Costs incurred for closing credit facility		$ 4,800,000
Remaining borrowing amount			$ 82,000,000		$ 82,000,000
Debt basis spread		1.00%
Commitment fee percentage		0.375%
Foreign subsidiaries, percentage of voting capital stock limit		65.00%
Fixed charge coverage		1
Credit facility line cap		10.00%
Availability threshold amount		$ 30,000,000
Consecutive calendar days | day		20
Debt interest rate			4.10%		4.10%
Line of Credit | 2019 Credit Facility | Revolving Credit Facility | Federal Funds Effective Rate
Debt Instrument [Line Items]
Debt basis spread		0.50%
Line of Credit | 2019 Credit Facility | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt basis spread		1.00%
Debt basis spread, floor		0.00%
Senior Notes | The Senior Secured Notes
Debt Instrument [Line Items]
Debt outstanding	$ 475,000,000
Debt interest rate	10.00%		10.00%		10.00%
Senior Notes | The Senior Secured Notes | Prior to August 1, 2021
Debt Instrument [Line Items]
Debt redemption price percentage	100.00%
Senior Notes | The Senior Secured Notes | August 1, 2021 to July 31, 2022
Debt Instrument [Line Items]
Debt redemption price percentage	105.00%
Senior Notes | The Senior Secured Notes | August 1, 2022 to July 31, 2023
Debt Instrument [Line Items]
Debt redemption price percentage	102.50%
Senior Notes | The Senior Secured Notes | After August 1, 2023
Debt Instrument [Line Items]
Debt redemption price percentage	100.00%
Senior Notes | The Senior Secured Notes | Until August 1, 2021
Debt Instrument [Line Items]
Debt redemption price percentage	110.00%
Percent of notes redeemable	40.00%

Debt Schedule of Debt Payments

Debt Schedule of Debt Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total	$ 671,603	$ 764,952
Less unamortized discount and issuance costs	(14,927)	(5,549)
Net debt	656,676	759,403
Notes Payable
Debt Instrument [Line Items]
2020	1,280
2021	1,280
2022	627
2023	416
2024	0
Thereafter	0
Total	3,603	$ 5,952
Less unamortized discount and issuance costs	0
Net debt	3,603
Senior Secured Notes and 2019 Credit Facility
Debt Instrument [Line Items]
2020	0
2021	0
2022	0
2023	0
2024	668,000
Thereafter	0
Total	668,000
Less unamortized discount and issuance costs	(14,927)
Net debt	$ 653,073

Equity - Narrative (Details)

Equity - Narrative (Details)	Jul. 31, 2019day$ / sharesshares	Jul. 30, 2019shares	Sep. 30, 2019$ / sharesshares	Dec. 31, 2018$ / sharesshares
Business Acquisition [Line Items]
Preferred stock authorized (in shares) | shares			5,000,000
Preferred stock par value (in dollars per share)			$ 0.0001
Preferred stock issued (in shares) | shares			0	0
Preferred stock outstanding (in shares) | shares			0	0
Common stock, authorized (in shares) | shares			250,000,000	250,000,000,000
Common stock, par value (in dollars per share)			$ 0.0001	$ 0.0001
Share price of warrants (in dollars per share)	$ 11.50
Days after merger, warrants commence	30 days
Outstanding Warrants Except Non-Public Warrants
Business Acquisition [Line Items]
Share price of warrants (in dollars per share)	$ 0.01
NESCO Holdings, LP and NESCO Management | Non-Public Warrant
Business Acquisition [Line Items]
Number of securities called by issued warrants | shares	2,500,000
Warrant fair value price (in dollars per share)	$ 1.04
NESCO Holdings, LP and NESCO Management | Outstanding Warrants Except Non-Public Warrants
Business Acquisition [Line Items]
Redemption days notice	30 days
Warrant stock price trigger (in dollars per share)	$ 18
Warrant trading days | day	20
Warrant consecutive trading days | day	30
Private Placement | Capitol Sponsors
Business Acquisition [Line Items]
Shares purchased (in shares) | shares	1,000,000
Price per share (in dollars per share)	$ 10
Private Placement | Nesco Owner
Business Acquisition [Line Items]
Shares purchased (in shares) | shares	4,500,000
Price per share (in dollars per share)	$ 10
Capitol
Business Acquisition [Line Items]
Common stock under sale restrictions (in shares) | shares		3,148,202
Period until anniversary	180 days
Capitol | Nesco Owner | Additional shares if common stock exceeds $13 per share or $16 per share
Business Acquisition [Line Items]
Contingent consideration term (in years)	5 years
Capitol | Nesco Owner | Additional shares if common stock exceeds $13 per share
Business Acquisition [Line Items]
Contingent consideration stock price trigger (in dollars per share)	$ 13
Capitol | Nesco Owner | Additional shares if common stock exceeds $16 per share
Business Acquisition [Line Items]
Contingent consideration stock price trigger (in dollars per share)	$ 16
Capitol | Nesco Owner | Additional shares if common stock exceeds $19 per share
Business Acquisition [Line Items]
Contingent consideration, additional shares (up to) (in shares) | shares	1,651,798
Contingent consideration term (in years)	7 years
Contingent consideration stock price trigger (in dollars per share)	$ 19
Trading days threshold | day	20
Consecutive trading days threshold | day	30
Share price consideration (in dollars per share)	$ 19
Capitol | Nesco Owner | Common Stock
Business Acquisition [Line Items]
Contingent consideration, additional shares (up to) (in shares) | shares	3,451,798
Capitol | Nesco Owner | Common Stock | Additional shares if common stock exceeds $13 per share or $16 per share
Business Acquisition [Line Items]
Contingent consideration, additional shares (up to) (in shares) | shares	1,800,000
Contingent consideration, incremental shares transferred (in shares) | shares	900,000
Consecutive trading days threshold | day	30
Capitol | Nesco Owner | Common Stock | Additional shares if common stock exceeds $13 per share
Business Acquisition [Line Items]
Contingent consideration stock price trigger (in dollars per share)	$ 13
Capitol | Nesco Owner | Common Stock | Additional shares if common stock exceeds $16 per share
Business Acquisition [Line Items]
Contingent consideration stock price trigger (in dollars per share)	$ 16
Trading days threshold | day	20
Capitol | Sponsor Warrants
Business Acquisition [Line Items]
Class of warrant, outstanding (in shares) | shares				20,949,980

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Dilutive Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended						9 Months Ended
	Jul. 31, 2019	Sep. 30, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Potentially dilutive shares excluded in aggregate (in shares)									26,600,000
Net income (loss)	$ (10,988)	$ (7,022)	$ (18,010)	$ (5,423)	$ (6,724)	$ (3,677)	$ (5,409)	$ (3,034)	$ (30,157)	$ (12,120)
Weighted-average basic and diluted shares outstanding:
Shares issued in reverse capitalization (in shares)			21,660,638			21,660,638			21,660,638	21,660,638
Shares outstanding post-recapitalization (in shares)			49,033,903			0			49,033,903	0
Weighted-average basic and diluted shares outstanding (in shares)			39,909,481			21,660,638			27,743,586	21,660,638
Basic and diluted net loss per share (USD per share)			$ (0.45)			$ (0.17)			$ (1.09)	$ (0.56)

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock authorized for issuance (in shares)			3,150,000
Shares of common stock reserved for issuance (in shares)	1,636,666	1,636,666
Share-based compensation expense	$ 0.3	$ 0.3
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Options / RSUs (Details)	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options granted (in shares) | shares	1,513,334
Weighted average fair value, stock options (in dollars per share) | $ / shares	$ 3.14
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock units granted (in shares) | shares	656,666
Weighted average fair value, restricted stock units (in dollars per share) | $ / shares	$ 6.98

Share-Based Compensation - Blac

Share-Based Compensation - Black-Scholes Assumptions (Details) - Stock Option	9 Months Ended
	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%
Volatility	47.00%
Risk-free rate of return	1.58%
Expected life, in years	6 years

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative	$ 2,552	$ 396
Carrying Value | Notes Payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	3,603	5,952
Carrying Value | Senior Secured Notes due 2024 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	475,000
Carrying Value | Senior Secured Second Lien Notes due 2021 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt		525,000
Carrying Value | Revolving Credit Facility | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt		209,000
Carrying Value | Revolving Credit Facility | 2019 Credit Facility | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	193,000
Carrying Value | Revolving Credit Facility | Tranche B Revolving Credit Commitments | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt		25,000
Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative	0	0
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative	2,552	396
Fair Value | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative	0	0
Fair Value | Notes Payable | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	0	0
Fair Value | Notes Payable | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	3,650	6,221
Fair Value | Notes Payable | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	0	0
Fair Value | Senior Secured Notes due 2024 | Senior Notes | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	0
Fair Value | Senior Secured Notes due 2024 | Senior Notes | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	494,000
Fair Value | Senior Secured Notes due 2024 | Senior Notes | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	0
Fair Value | Senior Secured Second Lien Notes due 2021 | Senior Notes | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt		0
Fair Value | Senior Secured Second Lien Notes due 2021 | Senior Notes | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt		443,625
Fair Value | Senior Secured Second Lien Notes due 2021 | Senior Notes | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt		0
Fair Value | Revolving Credit Facility | Line of Credit | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt		0
Fair Value | Revolving Credit Facility | Line of Credit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt		209,000
Fair Value | Revolving Credit Facility | Line of Credit | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt		0
Fair Value | Revolving Credit Facility | 2019 Credit Facility | Line of Credit | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	0
Fair Value | Revolving Credit Facility | 2019 Credit Facility | Line of Credit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	193,000
Fair Value | Revolving Credit Facility | 2019 Credit Facility | Line of Credit | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 0
Fair Value | Revolving Credit Facility | Tranche B Revolving Credit Commitments | Line of Credit | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt		0
Fair Value | Revolving Credit Facility | Tranche B Revolving Credit Commitments | Line of Credit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt		25,000
Fair Value | Revolving Credit Facility | Tranche B Revolving Credit Commitments | Line of Credit | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt		$ 0

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative [Line Items]
Reclassification from accumulated other comprehensive loss	$ 784,000	$ (476,000)	$ 88,000	$ 0	$ 800,000	$ 0
Cash flow hedge, tax expense (benefit) reclassified to earnings	300,000			$ 0	300,000	$ 0
Interest Rate Collar
Derivative [Line Items]
Derivative instruments not designated as hedges, gain (loss)	2,600,000
Not Designated as Hedging Instrument | Interest Rate Collar
Derivative [Line Items]
Interest rate collar amount	170,000,000				$ 170,000,000
Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Collar
Derivative [Line Items]
Reclassification from accumulated other comprehensive loss	800,000
Cash flow hedge, tax expense (benefit) reclassified to earnings	$ 300,000

Financial Instruments - Fair Va

Financial Instruments - Fair Value of Derivative Instruments (Details) - Cash Flow Hedging - Designated as Hedging Instrument - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Derivative instruments	$ 2,552	$ 422
Other liabilities | Interest Rate Collar
Derivative [Line Items]
Derivative instruments	$ 2,552	$ 422

Financial Instruments - Derivat

Financial Instruments - Derivatives Designated as Hedges (Details) - Designated as Hedging Instrument - Interest Rate Collar - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Derivative [Line Items]
Amount of gain (loss) recognized in Accumulated other comprehensive loss	$ 0	$ 0
Other (income) expense
Derivative [Line Items]
Amount of gain (loss) reclassified from Accumulated other comprehensive loss and recognized in Net loss	$ (1,069)	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details)	Sep. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Non-cancelable, purchase commitments	$ 10,600,000
Cancelable, purchase commitments	67,200,000
Purchase commitments beyond 2025	$ 0

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - Truck Utilities, Inc - USD ($) $ in Millions	Nov. 04, 2019	Nov. 04, 2019	Sep. 20, 2019
Subsequent Event [Line Items]
Escrow deposit			$ 1.7
Subsequent Event
Subsequent Event [Line Items]
Purchase consideration	$ 42.2
Capital expenditure adjustment		$ 3.6