U.S.-based integrated equipment services company H&E Equipment Services Inc. has agreed to purchase rental equipment company We-Rent-It (WRI).
Under the deal, H&E will pay about $100 million in cash for WRI, subject to customary adjustments.
With this acquisition, H&E will significantly expand its footprint in central Texas markets of Austin, Bryan/College Station, and San Antonio metro areas.
The deal will be completed in the first quarter of 2019, subject to customary closing conditions including Hart-Scott-Rodino Act clearance. For the last twelve months, WRI booked $35.6 million in revenues.