H&E Equipment Services, Inc. completed the acquisition of Precision Rentals LLC for approximately $120 million.
January 31, 2023
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H&E Equipment Services, Inc. (NasdaqGS:HEES) entered into a definitive agreement to acquire Precision Rentals LLC on December 11, 2023. The transaction is expected to close during the first quarter of 2024, following regulatory clearance and other customary closing conditions.
H&E Equipment Services, Inc. (NasdaqGS:HEES) completed the acquisition of Precision Rentals LLC for approximately $120 million on January 1, 2024. The purchase price $117.6 million in cash, before customary adjustments. The acquisition and related fees and expenses were funded using available cash and borrowings. Scott Chenevert and Maureen Gershanik of Fishman Haygood LLP acted as legal advisor to H&E Equipment.
H&E Equipment Services, Inc. is a rental equipment company. The Companyâs segments include Equipment Rentals, Sales of Rental Equipment, Sales of New Equipment, Parts Sales and Repair and Maintenance Services. Equipment rentals segment includes rental operations and primarily rents core types of construction and industrial equipment. Sales of Rental Equipment segment used sales are generated primarily from sales from its rental fleet. Sales of New Equipment segment sells equipment through a professional sales force. Parts Sales segment provides parts for its own rental fleet and sells parts for the equipment it sells. Services segment includes maintenance and repair services for its own rental fleet and for its customersâ equipment at its facilities as well as at its customersâ locations. It operates 139 branch locations across 30 states. It serves branches throughout the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast, Southeast, Midwest and Mid-Atlantic regions.
H&E EQUIPMENT SERVICES, INC. 
