H&E To Acquire Lewistown Rental
May 17, 2024| H&E Equipment Services, based in Baton Rouge, Louisiana, has entered into a definitive agreement to acquire Lewistown Rental, an equipment rental business located in Lewistown, Montana, along with three affiliated rental operations in Havre, Glasgow, and Great Falls, Montana.
Lewistown Rental and its affiliates serve various end markets, including non-residential, industrial, and agriculture. The company operates a diverse fleet of equipment, with a total estimated fleet value of $28.5 million based on the original equipment cost.
The transaction is anticipated to close in the second quarter of 2024, pending 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. 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," said Brad Barber, CEO of H&E Equipment Services.
Following the close of the transaction, H&E's equipment rental operations will extend across 145 locations in 30 states.