H&E Equipment Services Inc. today announced the acquisition of the equipment rental assets of Giffin Equipment, 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.
Giffin Equipment was founded as an equipment yard and wedding store in Goleta, just north of Santa Barbara, Calif., in 1930. The company now offers a wide range of construction and industrial-related equipment. It is also an authorized dealer for Bobcat equipment in Ventura and southern Santa Barbara counties.
Brad Barber, CEO of H&E Equipment Services, talked about the importance of the acquisition for H&E. “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,” Barber said. “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.”
The Stansberry Firm represented Giffin Equipment in the transaction.
Following the transaction, H&E’s equipment rental operations extend across 135 branch locations in 30 states, including 15 locations in California. Based in Baton Rouge, La., H&E Equipment Services is No. 5 on the RER 100.
