[ad_1]
H&E Equipment Services Inc. of Baton Rouge announced today that it has entered into an agreement to acquire Lewistown Rental, a Montana-based equipment rental business, and three of its affiliated rental businesses.
Affiliates are located in Glasgow Harbor and Great Falls, Montana, with each location serving multiple end markets including non-residential, industrial and agricultural.
Lewistown Rental boasts a total estimated vehicle value of $28.5 million, measured at original equipment costs. The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions. Financial details of the transaction were not disclosed.
H&E CEO Brad Barber in a prepared statement The Montana company says it has grown by addressing a unique customer base across the underserved markets of northern and central Montana.
“Growth prospects for the region and the state of Montana as a whole continue to improve, with increased demand for nonresidential construction, including commercial and infrastructure projects, industrial activity, and agricultural production,” Barber said. “This transaction is expected to complement our existing branches in Billings and Belgrade.”
After the transaction closes, H&E’s equipment rental operations will expand to 145 locations in 30 states.
H&E acquires Arizona equipment services company Precision Rentals The end of last year.
[ad_2]
Source link
