17.10.2005

H&E to sell shares

H&E Equipment Services, the crane and access rental and distribution company, based in Baton Rouge Louisiana, is planning an Initial Public Offering to raise over $200 million.

The company was founded in 1961 and originally known as Head & Engquist, it is still headed by John Engquist. A merger with ICM in 2002 created the 45 location business, with revenues in the region of $480 million a third of which comes from rental, making H&E the 10th largest rental company in the USA.

No information on how many shares or what percentage of the company is involved in the IPO is included in the public filing. The company says that proceeds from the IPO will fund its acquisition of Eagle High Reach Equipment, expand its presence in California, repay debt, purchase new equipment and for other corporate purposes.