Herc Holdings takes next step in H&E Equipment Services acquisition

Herc Holdings is closing the acquisition of fellow equipment rental house H&E Equipment Services following the May 30 expiration of its tender offer.

Herc Holdings Inc. and H&E Equipment Services Inc. announced the expiration of Herc’s tender offer to acquire all outstanding shares of H&E for $78.75 in cash and 0.1287 shares of Herc common stock per share, according to a May 30 Herc release. The offer expired at 12:01 a.m. ET on May 30, with approximately 69.33% of H&E’s outstanding shares validly tendered and not withdrawn.

With all conditions satisfied, Herc and its merger subsidiary accepted the tendered shares and expect to complete the acquisition on June 2, 2025, according to the release. At closing, all remaining H&E shares will be converted into the right to receive the same offer consideration, and H&E will become a wholly owned subsidiary of Herc, and H&E’s shares will cease trading on the Nasdaq Stock Market.

Herc, founded in 1965, operates through 453 rental locations in North America and reported $3.6 billion in 2024 revenue, according to the release. H&E, established in 1961, is among the largest U.S. equipment rental firms, serving diverse markets across multiple regions with a broad fleet of general and specialty equipment.