Herc Holdings Inc. has announced that it has completed its acquisition of H&E Equipment Services, Inc.
“The acquisition of H&E accelerates Herc’s proven strategy and strengthens our position as a premier rental company in North America,” said Larry Silber, Herc Rentals’ president and chief executive officer. “The addition of H&E’s network and capabilities provides Herc with a leading presence in 11 of the top 20 rental regions, a larger fleet that provides our customers with a range of specialty and general rental products, and a talented team who shares our focus on excellence in customer service and safety. We are excited to realize the substantial upside ahead for industry leading growth and superior value creation.”
Under the terms of the merger agreement, Herc Rentals acquired all of the issued and outstanding shares of H&E’s common stock for, on a per share basis, $78.75 in cash and 0.1287 shares of Herc Rentals common stock. With the completion of the transaction, shares of H&E common stock have ceased trading and will no longer be listed on the NASDAQ.
Herc Rentals Advisors
Guggenheim Securities, LLC served as lead financial advisor. Credit Agricole Securities (USA) Inc. served as co-financial advisor, and Credit Agricole Corporate and Investment Bank served as lead financing bank. Simpson Thacher & Bartlett LLP served as legal advisor. Joele Frank, Wilkinson Brimmer Katcher served as strategic communications advisor.
