Herc Holdings Completes Acquisition of H&E Equipment Services

United Rentals Acquires H&E Equipment Services in $4.8 Billion Deal

January 20, 2025

Transportation

United Rentals has entered into a definitive agreement to acquire H&E Equipment Services for $92 per share in cash, valuing the transaction at about $4.8 billion including roughly $1.4 billion of net debt. The deal is expected to expand United Rentals’ rental fleet capacity across key U.S. geographies and generate approximately $130 million of annualized cost synergies within 24 months of closing, plus revenue cross-sell synergies by year three.

H&E Equipment Services Acquires One Source Equipment Rentals

September 19, 2022

Industrial Services

H&E Equipment Services signed a definitive agreement to acquire One Source Equipment Rentals, a non-residential construction and industrial equipment rental provider with operations in the Midwest and Southern U.S. H&E is expected to pay $130 million in cash, and the transaction was expected to close in Q4 2022, pending customary conditions. H&E later announced the acquisition closed effective October 1, 2022, adding 10 branches and approximately $138 million in fleet to its network.

H&E Equipment Services Acquires Precision Rentals

December 11, 2023

Industrial Services

H&E Equipment Services signed a definitive agreement and subsequently completed the acquisition of Phoenix-based Precision Rentals, adding two branch locations (Phoenix and Aurora, Colorado) and a rental fleet with approximately $70 million of original equipment cost. The deal increases H&E's branch density in the Phoenix and Denver metropolitan areas and expands its footprint in attractive non-residential construction markets.

Herc Holdings to Acquire Cloverdale Equipment Company

March 15, 2022

Transportation

Herc Holdings Inc. (Herc Rentals) entered a purchase agreement to acquire Cloverdale Equipment Company. The deal is subject to customary closing conditions and regulatory approvals and is expected to close in the second quarter of 2022; terms were not disclosed.

The Manitowoc Company Acquires H&E Equipment Services' Crane Business

October 1, 2021

Industrial Services

The Manitowoc Company, Inc. has completed the acquisition of the crane business of H&E Equipment Services, Inc. for approximately $130 million. The acquired business will operate under Manitowoc’s wholly-owned subsidiary MGX Equipment Services, LLC and adds fourteen full‑service branch locations plus field service technicians to expand Manitowoc’s aftermarket capabilities and regional footprint.

Herc Rentals Acquires Summit Equipment Rentals

November 19, 2023

Construction

Herc Rentals has acquired Summit Equipment Rentals, a three-location equipment rental operator in Southern California. The deal expands Herc Rentals' presence in the Los Angeles and San Diego markets; Summit operates facilities in Menifee, Chula Vista and Garden Grove and offers aerial work platforms, earthmoving equipment, water trucks and tools.