<PAGE>
 
                               ENERGY INDUSTRIES
 
            NOTES TO THE COMBINED FINANCIAL STATEMENTS--(CONTINUED)
 
NOTE 4. PROPERTY, PLANT AND EQUIPMENT
 
  Upon the Acquisition, Energy Industries increased the net book value of
property, plant and equipment by $22.5 million to reflect the estimated fair
market value of the rental fleet and land and facilities at the date of the
Acquisition. Property, plant and equipment as of September 30, 1994 are
comprised as follows (in thousands):
 

<TABLE>
      <S>                                                               <C>
      Rental fleet..................................................... $49,760
      Patterns and forms...............................................     145
      Leasehold improvements...........................................     899
      Furniture and fixtures...........................................     212
      Computer equipment...............................................     942
      Machinery and equipment..........................................   1,303
      Buildings........................................................   2,376
      Land.............................................................   1,024
                                                                        -------
                                                                         56,661
      Less accumulated depreciation....................................  (4,165)
                                                                        -------
                                                                        $52,496
                                                                        =======
</TABLE>

 
  Depreciation expense for the eleven months ended September 30, 1994 was
$4,201,000.
 
NOTE 5. GOODWILL
 
  Goodwill as of September 30, 1994 is summarized as follows (in thousands):
 

<TABLE>
      <S>                                                               <C>
      Goodwill......................................................... $19,328
      Accumulated amortization.........................................    (443)
                                                                        -------
                                                                        $18,885
                                                                        =======
</TABLE>

 
  Amortization expense for goodwill totalled $443,000 for the eleven months
ended September 30, 1994.
 
NOTE 6. ACCRUED LIABILITIES
 
  Accrued liabilities as of September 30, 1994 are summarized as follows (in
thousands):
 

<TABLE>
      <S>                                                                 <C>
      State Income Taxes................................................. $  425
      Accrued Payroll....................................................  1,279
      Ad Valorem Taxes...................................................    375
      Accrued Warranty...................................................    250
      Other Accrued Liabilities..........................................  1,666
                                                                          ------
                                                                          $3,995
                                                                          ======
</TABLE>

 
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