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 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 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.

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.

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.