H&E Equipment acquires in Midwest

By Murray Pollok23 September 2022

H&E Equipment Services is to acquire One Source Equipment Rentals for US$130 million in cash.

H&E Equipment headquarters H&E’s corporate headquarters in Baton Rouge, Louisiana.

Founded in 2001, One Source is an employee-owned business based in Plainfield, Illinois with revenues of $59 million for the year to 31 July 2022. It has 10 branches in the Midwest and southern US; three in each of Illinois and Indiana, two in Tennessee and one each in Kentucky and Alabama.

The deal is expected to close during the fourth quarter of 2022.

Brad Barber, CEO of H&E, said One Source had strong consumer loyalty throughout its network; “These important attributes, which are underscored by a dedicated base of employee owners, offer an exceptional cultural fit with H&E.

“Also, the transaction will expand our geographic footprint into the Midwest with operations in Illinois and Indiana, as well as operations in Kentucky.”

One source Equipment Rentals acquired

He added that the H&E was expanding through “warm start” – meaning acquisitions - and greenfield branch openings, with 15 new branches established since early 2021.

Following the closing of the transaction, H&E’s equipment rental operations will extend across 117 locations in 28 states.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, Access International Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Kubota opens new parts centre
€15m warehouse will stock parts for construction, agriculture, groundcare and engines
Dingli launches further electric scissors
The JCPT1912DCL and JCPT1712DCL have 500kg basket capacities
Upgraded Schindler Climb Lift goes to work on marquee high-rise projects
First use of Climb Lift’s new formwork integration will be in Hamburg, and Schindler’s first installation in the Middle East is scheduled in Dubai
CONNECT WITH THE TEAM
Euan Youdale Editor, Access International Tel: +44 (0)1892 786 214 E-mail: euan.youdale@khl.com
Ollie Hodges Sales Manager Tel: +44 (0)1892 786253 E-mail: ollie.hodges@khl.com
CONNECT WITH SOCIAL MEDIA