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Baton Rouge-based H&E Equipment Services merging into international United Rentals firm
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BATON ROUGE — Connecticut-based United Rentals announced a deal Tuesday to acquire Baton Rouge's H&E Equipment Services for an estimated $4.8 billion, including $1.4 billion in net debt.
United Rentals is the world's largest equipment rental company, with locations across North America and in Australia, Europe and New Zealand. H&E has branches in 30 states, including locations where United Rentals would be able to expand operations, the companies said.
"Importantly, I want to thank our employees for driving the results that made this transaction possible," said John Engquist, the executive chairman at H&E. "I am confident that we’ve found an excellent landing spot for them and I am excited for the new opportunities they will have as part of United Rentals.”
The deal is expected to close by the end of March. The merger agreement allows for a 35-day window in which H&E can entertain other offers.
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