H&E Equipment Services completed its acquisition of Contractors Equipment Center, a non-residential construction focused equipment rental company located in the Denver area. The acquisition is part of H&E’s ongoing strategy of acquiring rental companies to complement its existing business and footprint, and will augment H&E’s capabilities and efficiencies of scale in the market areas and geographies that CEC currently serves.
The assets acquired include approximately $84 million of fleet based on original equipment cost and three branch facilities serving end markets in the non-residential construction and other sectors.
“We are very pleased to have finalized the CEC transaction, which doubles our branch count to six in Colorado, significantly expanding our presence in a strong non-residential construction market,” said John Engquist, H&E CEO. “Our collective teams have been working side by side since we announced the definitive agreement in late November in an effort to ensure a seamless integration process post-closing. As a result, our newly combined Colorado operations have solid momentum entering the New Year. CEC is extremely representative of the type of acquisitions we intend to actively pursue.”
Based in Baton Rouge, La., H&E Equipment Services is No. 9 on the RER 100, and now has more than 80 branches in the United States.
