H&E Equipment signs definitive agreement to acquire Lewistown Rental

H&E Equipment Services announced the signing of a definitive agreement to acquire Lewistown Rental, a Lewistown, Montana-based equipment rental business and three of its affiliated rental operations in Havre, Glasgow and Great Falls, Montana. Each location serves multiple end markets, including non-residential, industrial and agriculture. The company and its affiliates deploy a diverse fleet of equipment with a total estimated fleet value, as measured by original equipment cost of $28.5M . The transaction is expected to close in the second quarter of 2024, following the satisfaction of customary closing conditions. Brad Barber, chief executive officer of H&E, stated, “Lewistown Rental, together with its affiliated operations, has demonstrated impressive growth over the past several years by addressing a unique customer base across underserved markets in northern and central Montana, utilizing a diverse and comprehensive mix of equipment. Growth prospects in this region and across the state of Montana continue to improve, with rising demand in non-residential construction, including commercial and infrastructure projects, industrial activities and agricultural production. The transaction is expected to complement our existing branch locations in the cities of Billings and Belgrade.” Following the close of the transaction, H&E’s equipment rental operations will extend across 145 locations in 30 states.