H&E acquiring Miami equipment company for $1.2B

H&E Equipment Services (File Photo)

Baton Rouge’s H&E Equipment Services is acquiring Neff Corporation, a regional equipment rental company based in Miami, in a deal valued at $1.2 billion that will double its number of branches.

H&E says it will pay $21.07 in cash per share for Neff. The deal also includes about $690 million in debt, a news release says.

“This transaction will bring together what we believe to be two highly complementary businesses that share a commitment to addressing the increasingly complex equipment needs of our customers,” H&E CEO John Engquist says in a statement.

The companies have already signed a definitive merger agreement and their boards have approved the deal, which is expected to close late in the third quarter or early in the fourth quarter of this year.

Daily Report has the full story. 

There are no comments. Click to add your thoughts!