Baton Rouge’s H&E Equipment Services Inc. today announced it has entered into an agreement to acquire Lewistown Rental, a Montana-based equipment rental business, and three of its affiliated rental operations.
The affiliates are located in Havre, Glasgow and Great Falls, Montana, and each location serves multiple end markets, including non-residential, industrial and agriculture.
Lewistown Rental boasts a total estimated fleet value, as measured by original equipment cost, of $28.5 million. The transaction is expected to close in the second quarter of 2024, following the satisfaction of customary closing conditions. Financial details of the deal were not disclosed.
H&E CEO Brad Barber in a prepared statement says the Montana company has grown by addressing a unique customer base across underserved markets in northern and central Montana.
“Growth prospects in this region and across the state of Montana continue to improve, with rising demand in non-residential construction, including commercial and infrastructure projects, industrial activities and agricultural production,” Barber says. “The transaction is expected to complement our existing branch locations in the cities of Billings and Belgrade.”
Following the close of the transaction, H&E’s equipment rental operations will extend across 145 locations in 30 states.
H&E acquired Arizona-based equipment services firm Precision Rentals late last year.
