Maverick equipment magnate Don F. Ahern is sitting on top of the world compared to two years ago, when his eponymous Las Vegas-based rental company was mired in debt, plunged into Chapter 11 bankruptcy and facing a hostile creditor takeover bid by billionaire investor Tom Gores, whose Platinum Equity LLC owns Maxim Crane Works and NESCO. Ahern persevered, repaying 100% of claims with 16% monthly interest to term lenders. That enabled Ahern to continue running a business started by his father in 1953. Turning to other deals, the thwarted Gores later paid $1.1 billion for the 132-outlet, 2,100-employee Volvo Rents, now called Blue Line Rental.
The 60-year-old Ahern speaks with piercing blue eyes, a warm smile and a salesman's easygoing charm—traits that may have helped him convince Wall Street investors to provide a $750-million credit line that allowed the company to exit bankruptcy on June 5, 2013.