H&E Equipment Services, Inc. completed the acquisition of Contractors Equipment Center, LLC.
January 31, 2017
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H&E Equipment Services, Inc. (NasdaqGS:HEES) entered into an agreement to acquire Contractors Equipment Center, LLC for approximately $120 million on November 21, 2017. As per the terms of agreement, consideration will be paid in cash and is subject to customary adjustments. The transaction will be financed using the proceeds of a debt offering of $200 million. As on September 30, 2017, Contractors Equipment Center, LLC had total revenues of $34 million. H&E Equipment Services will retain employees of Contractors Equipment Center. The transaction is subject to customary closing conditions including Hart-Scott-Rodino Act clearance and is expected to close in the late fourth quarter of 2017. Dechert LLP served as a legal advisor of H&E Equipment Services. Catalyst Strategic served as a financial advisor and Holland & Hart LLP served as a legal advisor of Contractors Equipment Center. Tony Enlow, Stephen Sonenshine, Alicia Burger and Jim Putnam from BDO Corporate Finance served as financial advisors to H&E Equipment Services on the deal.
H&E Equipment Services, Inc. (NasdaqGS:HEES) completed the acquisition of Contractors Equipment Center, LLC on January 1, 2018.
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 145 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. 
