December 17, 2023
H&E Equipment Services, Baton Rouge, La., has signed a definitive agreement to acquire the business of Phoenix-based Precision Rentals, which also has a location in Aurora, Colo. Precision Rentals offers a mix of general rental assets with a total fleet size, as measured by original equipment cost, of approximately $70 million and an average fleet age of 37 months. The transaction is expected to close during the first quarter of 2024, following regulatory clearance and customary closing conditions.
“Since 2006, Precision Rentals has successfully grown its equipment rental business through a focus on reliability, fleet diversity and exceptional customer service. 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,” said Brad Barber, CEO, H&E Equipment Services.
