H&E Equipment Services

Heavy Equipment Rental Serviceshe-equipment.com

H&E Equipment Services was a heavy equipment rental operator providing excavators, cranes, telehandlers, and aerial work platforms to construction, industrial, and agriculture customers across more than 120 U.S. branches before its 2025 acquisition by Herc Holdings.

Company typePrivate
Founded2002
HeadquartersBaton Rouge, United States
Headcount1,001–5,000
GTM typeB2B
OfferingServices

What H&E Equipment Services does

H&E Equipment Services was a major U.S. heavy equipment rental operator providing excavators, cranes, telehandlers, and aerial work platforms to construction, industrial, and agriculture customers through more than 120 branches across 25 states (expanded to 145 across 30 states following bolt-on acquisitions). The company operated an asset-heavy rental model with a fleet carrying approximately $2.9 billion in original equipment cost as of Q4 2024, supplemented by parts sales, recurring service contracts, and new equipment sales as integrated revenue streams.

Pricing followed standard industry practice — daily, weekly, and monthly rental rates quoted against equipment type, rental duration, and geography — with peak construction-season utilization running above 60-70%. The go-to-market was sales-led through a distributed branch network concentrated in the Gulf Coast, West Coast, and Midwest, with regional vice presidents and account-credit infrastructure (ProControl app, credit application workflows) supporting enterprise contractors.

Growth was executed primarily through bolt-on M&A — Precision Rentals (January 2024, Phoenix/Denver markets, ~$70M fleet), Lewistown Rental (May 2024, Montana, $28.5M fleet), and earlier acquisitions including One Source (2022, $130M) and Contractors Equipment Center (2017, $122.4M). In June 2025, H&E was acquired by Herc Holdings Inc. for approximately $5.3 billion in the largest transaction in equipment rental industry history, at which point H&E's operations and ~2,500 employees were absorbed into Herc's platform and H&E ceased independent operation.

H&E Equipment Services firmographics

Firmographics

Name: H&E Equipment Services
Legal name: H&E Equipment Services Inc.
Website: https://he-equipment.com
Company type: Private
Founded year: 2002
Operating status: Acquired
Headcount range: 1,001–5,000 employees
Short description: H&E Equipment Services was a heavy equipment rental operator providing excavators, cranes, telehandlers, and aerial work platforms to construction, industrial, and agriculture customers across more than 120 U.S. branches before its 2025 acquisition by Herc Holdings.
Ownership category
akta.pro rank

H&E Equipment Services industry classification

Industry

Product category: Heavy Equipment Rental Services
NAICS: Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing (532412), Construction, Transportation, Mining, and Forestry Machinery and Equipment Rental and Leasing (53241), Other Commercial and Industrial Machinery and Equipment Rental and Leasing (532490)
SIC: Services-Equipment Rental & Leasing, Nec (7359), Services-Miscellaneous Equipment Rental & Leasing (7350), Construction Machinery & Equip (3531)
akta.pro primary industry: Earthmoving & Excavation Equipment Rental/Leasing (TLABAFAA)
akta.pro secondary industries: Cranes & Heavy Lifting Equipment Rental/Leasing (TLABAFAD), Material Handling Equipment Rental/Leasing (Forklifts, Telehandlers, Reach Trucks) (TLABAFAF)

Keywords

Heavy equipment rental
Construction equipment
Industrial machinery leasing
Aerial work platforms
Earthmoving equipment

Where H&E Equipment Services is headquartered

Location

Headquarters

HQ city: Baton Rouge
HQ country: United States
HQ region: North America

Offices1 record

Markets served

H&E Equipment Services business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

Equipment Rental Contracts: Primary revenue stream from rental contracts of heavy construction and industrial machinery including excavators, cranes, telehandlers, and aerial work platforms. The asset-light model generates majority of revenues from diversified fleet operations.
Parts Sales: Supplements core rental revenue through sale of equipment parts to existing customer base
Service Contracts: Recurring revenue from service contracts supporting customer's ongoing equipment maintenance needs
New Equipment Sales: Sales of new equipment to complement the rental offerings

Pricing tiers

Model	Billing	Price
Unit Pricing	Pay-as-you-go	Standard rental rates based on equipment type and duration

Go-to-market motion1 record

H&E Equipment Services product offering

Product offering

Core offering

H&E Equipment Services rented heavy construction and industrial equipment—including excavators, cranes, telehandlers, and aerial work platforms—to construction, industrial, and agriculture customers through an asset-light rental model across more than 120 branches in the United States. The company supplemented rental income with parts sales, service contracts, and new equipment sales, operating a diversified fleet whose original equipment cost was approximately $2.9 billion as of Q4 2024.

Product overview

H&E Equipment Services was a major heavy equipment rental provider operating across more than 120 branches in 25 U.S. states. The company's asset-light rental model generated the majority of revenues from a diversified fleet exceeding hundreds of thousands of units, supplemented by parts sales, service contracts, and new equipment sales. H&E offered machinery including excavators, cranes, telehandlers, and aerial work platforms to construction and industrial customers. Note: H&E Equipment Services was acquired by Herc Holdings in June 2025 and integrated into Herc Rentals.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

Utilization rates exceeding 60-70% during peak construction periods
+1 more outcomes

Companies that use H&E Equipment Services

Customer profile

Named customers3 records

Segments3 records

Ideal customer profiles3 records

H&E Equipment Services technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature1 record

H&E Equipment Services partnerships and signals

Strategic signal

Partnerships

Three partnerships are on record, tiered core.

Lewistown Rental (completed acquisition)coreStrategic or Co-development Partner · 2 May 2024H&E Equipment Services completed its acquisition of Lewistown Rental, a Montana-based equipment rental business, and three of its affiliate companies. This transaction expanded H&E's market presence in the northern region and added fleet capacity to serve various market segments.
Lewistown RentalcoreStrategic or Co-development Partner · 11 April 2024H&E Equipment Services signed definitive agreement to acquire Lewistown Rental and its affiliated operations in Montana in April 2024. The acquisition involved a fleet valued at $28.5 million and was expected to expand H&E's geographical coverage to 145 locations across 30 states. Lewistown Rental served markets including non-residential, industrial, and agriculture sectors.
Precision RentalscoreStrategic or Co-development Partner · 2 January 2024H&E Equipment Services completed acquisition of Precision Rentals in January 2024, expanding geographic presence in Phoenix and Denver markets and adding approximately $70 million in equipment to the fleet. This acquisition supported H&E's strategic growth, which had seen a 16% increase in its branch network over the prior year.

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

H&E Equipment Services competitors and assessment

Company assessment

Direct peers

Herc Holdings: H&E's parent company since June 2025 and the third-largest North American equipment rental company. Operates the same business model and customer overlap; was a direct standalone competitor prior to the $5.3B acquisition.
United Rentals: Largest equipment rental company in the world and H&E's most direct competitor. Operates the same asset-heavy rental model across aerial, earthmoving, material handling, and specialty equipment, serving overlapping construction and industrial customer bases in the U.S.
Sunbelt Rentals: U.S. subsidiary of Ashtead Group and the second-largest equipment rental operator in North America. Directly comparable heavy construction and industrial rental fleet and customer profile; co-defendant in the antitrust litigation alongside H&E.
Sunstate Equipment: Major U.S. construction and industrial equipment rental company named alongside H&E in the antitrust cartel lawsuit. Operates a comparable rental model with significant branch density in the Sun Belt.

Others

RB Global: Auctioneer and marketplace for used heavy equipment co-named in the antitrust litigation alongside H&E. Indirectly comparable as a key channel for used-equipment disposition, which is material to the residual-value economics of H&E's $2.9B rental fleet.

Broad incumbents

Komatsu: Major global construction and mining equipment manufacturer with a growing Komatsu Rent offering in North America. Overlaps with H&E in earthmoving and material handling equipment supplied to construction customers.
Caterpillar: World's largest construction equipment OEM with a significant Cat Rental Store network serving overlapping construction customers. Comparable through the rental distribution channel, though primary business is equipment manufacturing rather than rental services.
Ashtead Group: U.K.-listed parent of Sunbelt Rentals and one of the largest equipment rental platforms globally. Operates an overlapping heavy-equipment rental business at much larger scale, with broader geographic and vertical reach than H&E.
John Deere: Major equipment manufacturer with construction and forestry rental distribution partners serving similar end customers. Comparable through equipment category overlap (earthmoving, material handling) rather than direct rental competition.
BrandSafway: Large industrial services and access/rental provider serving construction and industrial customers across the U.S. Overlaps with H&E in scaffolding and site services adjacent to the heavy construction equipment rental market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

H&E Equipment Services financial estimates

Financial estimate

Revenue estimate

Valuation estimate

H&E Equipment Services leadership team

Management profile

Number of profiles

Profiles4 records

H&E Equipment Services subsidiaries and ownership

Company hierarchy

Subsidiaries2 records

H&E Equipment Services funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

H&E Equipment Services M&A and investment

M&A and investment

M&A5 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about H&E Equipment Services

What does H&E Equipment Services do?

Is H&E Equipment Services a public or private company?

H&E Equipment Services is a private company. It is classified as corporate owned and is currently acquired.

When was H&E Equipment Services founded?

H&E Equipment Services was founded in 2002. It employs 1,001 to 5,000 people.

Where is H&E Equipment Services based?

H&E Equipment Services is headquartered in Baton Rouge, United States, in the North America region.

How does H&E Equipment Services make money?

Four revenue lines are on record. Equipment Rental Contracts are the primary driver. The others are parts Sales, service Contracts and new Equipment Sales.

Who are H&E Equipment Services's main competitors?

Direct peers on record are Herc Holdings, United Rentals, Sunbelt Rentals and Sunstate Equipment. RB Global is listed as an others. Broad incumbents are Komatsu, Caterpillar, Ashtead Group, John Deere and BrandSafway.

Does H&E Equipment Services have an API?

No public API is recorded for H&E Equipment Services.

What industry is H&E Equipment Services in?

H&E Equipment Services's product category is Heavy Equipment Rental Services. Its primary akta.pro industry code is TLABAFAA, Earthmoving & Excavation Equipment Rental/Leasing, with a secondary code of TLABAFAD, Cranes & Heavy Lifting Equipment Rental/Leasing. Its NAICS code is 532412 and its SIC code is 7359.