Baton Rouge, La.-based H&E Equipment Services last week filed with the U.S. Securities and Exchange Commission to raise more than $201 million in an initial public common stock offering.
Credit Suisse First Boston and UBS Investment Bank are underwriting the offering, according to the company. The filing did not provide the number of shares being offered or the price per share.
The company said it would use proceeds from the IPO to fund its acquisition of Eagle High Reach Equipment, expanding its presence in California; to repay debt; purchase equipment; pay deferred compensation to executives and for other corporate purposes.
H&E Equipment Services reported $160 million in rental volume in 2004 and $478 million in total volume, earning it the No. 10 spot on the RER 100.
