H&E Equipment Services Signs Definitive Agreement To Acquire The Business Of Precision Rentals; Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
H&E Equipment Services (HEES) has signed a definitive agreement to acquire Precision Rentals, which has a fleet valued at approximately $70 million and an average fleet age of 37 months. The terms of the acquisition were not disclosed.
December 11, 2023 | 12:04 pm
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POSITIVE IMPACT
H&E Equipment Services is set to acquire Precision Rentals, enhancing its rental asset portfolio with a fleet valued at $70 million and a relatively new average fleet age.
The acquisition of Precision Rentals is likely to have a positive short-term impact on HEES's stock price. The addition of a $70 million fleet with a young average age can enhance HEES's rental offerings and potentially improve its market position. The lack of disclosed terms makes the financial impact uncertain, but the strategic growth through acquisition is generally viewed positively by the market.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100