United Rentals, Inc. plans to acquire H&E Equipment Services, Inc. in a $4.8 billion transaction that includes $1.4 billion in net debt.
This acquisition will expand United Rentals’ footprint in key U.S. markets and align with its "grow the core" strategy, delivering attractive risk-adjusted returns.
H&E, founded in 1961, operates a diverse rental fleet of aerial platforms, earthmoving equipment and other machinery across 160 branches in more than 30 states.
With a $2.9 billion fleet and $696 million in adjusted earning before interest, taxes, depreciation and amortization over the past year, H&E’s network and expertise will complement United Rentals’ offerings, providing seamless access to specialty rental services and expanding capacity in critical regions.
The deal adds 64,000 rental units valued at $2.9 billion and is expected to generate $130 million in annualized cost synergies and $120 million in revenue cross-selling opportunities within three years.
United Rentals anticipates strong returns, improved efficiency and expanded services for customers, with the acquisition expected to close in early 2025.
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