H&E has been on an acquisition spree this yearNASDAQ-listed H&E Equipment Services has agreed to acquire Precision Rentals.
Based in Phoenix, Arizona, Precision has a USD70 million fleet of rental equipment, including boom lifts, scissor lifts and forklifts, with an average age of 37 months.
Precision has a branch in Phoenix and a second location in Aurora, Colorado.
“Since 2006, Precision Rentals has successfully grown its equipment rental business through a focus on reliability, fleet diversity and exceptional customer service,” says H&E chief executive officer Brad Barber.
“The company’s branch operations are in cities with strong construction activity and excellent future opportunities, including several mega projects. The acquisition is expected to expand the H&E customer base as branch density is increased across the Phoenix and Denver metropolitan areas.”
H&E has been on an expansion drive during 2023, with 17 branches added through November, as well as the additional two branches the acquisition of Precision will bring.