H&E Equipment Services Signs Agreement to Acquire Montana’s Lewistown Rental and Affiliates
H&E Equipment Services today announced the signing of a definitive agreement to acquire Lewistown Rental, a Lewistown, Mont.-based equipment rental business and three of its affiliated rental operations in Havre, Glasgow and Great Falls, Mont. 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 $28.5 million. The transaction is expected to close in the second quarter of 2024, following the satisfaction of customary closing conditions.
“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,” said Brad Barber, CEO of H&E. “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. H&E, headquartered in Baton Rouge, La., is No. 5 on the RER 100. H&E serves a diverse set of end markets in many high-growth geographies and has branches throughout the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast, Southeast, Midwest, and Mid-Atlantic regions.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.