H&E Equipment Services Acquires Rental Assets of Giffin Equipment

Herc Holdings Acquires H&E Equipment Services

February 19, 2025

Industrial Services

Herc Holdings Inc. acquired H&E Equipment Services in a transaction valued at $5.3 billion (including $1.5 billion of assumed debt), after outbidding United Rentals during a go-shop period. Under the terms, H&E shareholders received $78.75 in cash and 0.1287 shares of Herc common stock per share (approximately $104.89 per share based on Herc VWAP), H&E shares ceased trading on NASDAQ, and the combined company expands Herc's footprint, fleet and scale across North America.

H&E Equipment Services Acquires One Source Equipment Rentals

September 19, 2022

Industrial Services

H&E Equipment Services, Inc. agreed to acquire One Source Equipment Rentals, Inc. for $130 million in cash, adding 10 branch locations and approximately $138 million in fleet to H&E's network. The acquisition expands H&E's geographic footprint into the Midwest (Illinois and Indiana) and supplements its presence in the southern U.S.; One Source is employee‑owned and generated roughly $59 million in revenue over the twelve months ended July 31, 2022.

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.

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.

H&E Equipment Services Acquires Lewistown Rental and Affiliated Companies

April 11, 2024

Industrial Services

H&E Equipment Services, Inc. signed a definitive agreement to acquire Lewistown Rental, a Lewistown, Montana-based equipment rental business, along with three affiliated locations in Havre, Glasgow and Great Falls, Montana. The deal extends H&E's branch footprint in Montana and adds a diverse fleet with an original equipment cost estimated at $28.5 million; the transaction is expected to close in Q2 2024.

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.