Herc Holdings Inc. has completed its acquisition of H&E Equipment Services, Inc. d/b/a H&E Rentals, a move that has significantly impacted the company's financial metrics. Herc's pro forma 2024 total revenues now stand at $5.1 billion, reflecting the combined strength of the two entities. With 613 locations across North America, Herc Holdings is positioned as a premier rental company in the region.
The acquisition was completed under the terms of the merger agreement, with Herc Rentals acquiring all of the issued and outstanding shares of H&E's common stock for $78.75 in cash and 0.1287 shares of Herc Rentals common stock per share. As a result, shares of H&E common stock have ceased trading and will no longer be listed on the NASDAQ.
Herc Holdings Inc.'s expanded fleet now provides customers with a range of specialty and general rental products, reinforcing the company's position as an industry leader. The addition of H&E's network and capabilities has also bolstered Herc's presence in 11 of the top 20 rental regions.
The company's workforce has also seen a significant increase, with approximately 10,500 employees now on board to support Herc Holdings' mission of helping customers work more efficiently, effectively, and safely. The acquisition is expected to drive industry-leading growth and superior value creation, aligning with Herc's focus on excellence in customer service and safety.
This acquisition marks a strategic milestone for Herc Holdings Inc., positioning the company for substantial growth and solidifying its role as a key player in the equipment rental industry. The market has reacted to these announcements by moving the company's shares -6.63% to a price of $115.78. For the full picture, make sure to review HERC HOLDINGS INC's 8-K report.
