BATON ROUGE, La. — H&E Equipment Services, Inc. (“H&E” or the “Company”) (NASDAQ: HEES) today announced the acquisition of the equipment rental assets of Giffin Equipment (“Giffin”), a California-based provider of non-residential construction and industrial equipment. The acquisition, which closed earlier today, includes three branch locations and a fleet size, as measured by original equipment cost, of approximately $13.4 million. The rental branches are in the cities of Ventura, Goleta and Santa Maria.
Brad Barber, chief executive officer of H&E Equipment Services, Inc., detailed the importance of the acquisition, stating, “The addition of Giffin’s equipment rental assets and facilities increases our branch density and assists in bridging our existing locations in Central and Southern California. The improved density and continuity allow H&E to efficiently address the active non-residential construction market through extended regional coverage, while providing meaningful expansion of our rental fleet within the existing branch structure. Throughout Giffin’s 93-year history in California, its employees have maintained a focus on strong customer service, reliable equipment, and equipment solutions. We look forward to growing our rental fleet in these newly acquired locations while working closely with our new teams to expand our Central and Southern California business.”
Following the transaction, H&E’s equipment rental operations extend across 135 branch locations in 30 states, including 15 locations in California.
About H&E Equipment Services, Inc.
Founded in 1961, H&E Equipment Services, Inc. is one of the largest rental equipment companies in the nation. The Company’s fleet is among the industry’s youngest and most versatile with a superior equipment mix comprised of aerial work platforms, earthmoving, material handling, and other general and specialty lines. H&E serves a diverse set of end markets in many high-growth geographies including branches throughout the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast, Southeast, Midwest, and Mid-Atlantic regions.
