H&E Equipment to buy One Source

News Story
- 29 Sep 2022 ( #1096 ) - Baton Rouge, LA, United States
1 min read
One Source's 10 branches will join the H&E Equipment Services network
One Source's 10 branches will join the H&E Equipment Services network

H&E Equipment Services has signed a definitive agreement to acquire One Source Equipment Rentals, a provider of non-residential construction and industrial equipment with operations in the Midwest and Southern USA. 

One Source, which is employee-owned, operates 10 branches, including three locations in each of Illinois and Indiana, two locations in Tennessee, and one in each of Kentucky and Alabama. 

H&E is expected to pay USD130 million in cash for One Source, before customary adjustments. The transaction is expected to close during the fourth quarter of 2022, following regulatory clearance and the completion of other customary closing conditions.

Brad Barber, chief executive officer of H&E Equipment Services, notes the strategic rationale for the transaction: “For more than 20 years, One Source has emphasised a culture where equipment reliability and customer support and satisfaction are vital features for success, resulting in an equipment rental operation with strong consumer loyalty throughout its branch network. These important attributes, which are underscored by a dedicated base of employee owners, offer an exceptional cultural fit with H&E. 

“Also, the transaction will expand our geographic footprint into the Midwest with operations in Illinois and Indiana, as well as operations in Kentucky. Finally, the demonstrated success of our accelerated warm start plan, with 15 warm start and greenfield locations established since early 2021, will prove beneficial as we evaluate post-integration growth opportunities in the Midwest and other surrounding regions with attractive prospects for expansion.”

The acquisition will expand H&E’s equipment rental operations to 117 branch locations in 28 states.

Briefs
Briefs 14 Aug 2025 - 2 min read
Briefs
Briefs 10 Jul 2025 - 1 min read
Best Line and Burwell expand in US
Best Line and Burwell expand in US 10 Jul 2025 - United States - 1 min read
Previously about:
H&E acquires Precision Rentals News Story - 21 Dec 2023 - Baton Rouge, LA, United States - 1 min read
Do you have materials handling news? Submit your news here

PREMIUM business

RAEDER-VOGEL
Innovative high-quality wheels and castors for the forklift industry.

"During these 10 years, Hangcha has seen remarkable growth: revenue surged 3.6 times to ¥16.49 billion (2024), we established 18 overseas subsidiaries, pioneered industry-leading lithium forklifts and intelligent logistics solutions and significantly elevated our global brand. We deeply appreciate Forkliftaction's effective platform and unwavering support." - Kelly Xu, Marketing Specialist - Zhejiang HANGCHA Imp. & Exp. Co.,Ltd. 

Thanks for your support! Read the full testimonial & more industry messages ♥ here.

Words of support …

These releases in Forkliftaction are a nice experience for SNDC... We got seven inquiries coming from Canada, USA, Mexico, Israel and Australia (five from retailers, two from machines manufacturers) and we are still in contact with them. I can state that's a success story!

David Massat, Sales Director OEM and Export

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

"During these 10 years, Hangcha has seen remarkable growth: revenue surged 3.6 times to ¥16.49 billion (2024), we established 18 overseas subsidiaries, pioneered industry-leading lithium forklifts and intelligent logistics solutions and significantly elevated our global brand. We deeply appreciate Forkliftaction's effective platform and unwavering support." - Kelly Xu, Marketing Specialist - Zhejiang HANGCHA Imp. & Exp. Co.,Ltd. 

Thanks for your support! Read the full testimonial & more industry messages ♥ here.

"During these 10 years, Hangcha has seen remarkable growth: revenue surged 3.6 times to ¥16.49 billion (2024), we established 18 overseas subsidiaries, pioneered industry-leading lithium forklifts and intelligent logistics solutions and significantly elevated our global brand. We deeply appreciate Forkliftaction's effective platform and unwavering support." - Kelly Xu, Marketing Specialist - Zhejiang HANGCHA Imp. & Exp. Co.,Ltd. 

Thanks for your support! Read the full testimonial & more industry messages ♥ here.

Inside The News
In this week’s Forkliftaction News we report on the recent IMHX event in Birmingham with coverage of new product launches, key themes and observations from those attending. We also name the winners of the 2025 Archies Awards, held in conjunction with IMHX... Continue reading

Showcased in the Virtual Expo

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET