Simpson Thacher is representing Herc Holdings Inc., one of North America’s leading equipment rental suppliers, in connection with its proposed acquisition of H&E Equipment Services, Inc. d/b/a H&E Rentals, following H&E’s termination of its previously announced proposed acquisition by United Rentals, Inc. The transaction values H&E at approximately $5.3 billion, including debt.
H&E stockholders will receive $78.75 in cash and 0.1287 shares of Herc Holdings common stock for each share of H&E common stock that they own. The transaction is expected to close mid-year 2025, subject to customary closing conditions.
Founded in 1965, Herc Holdings, which operates through its Herc Rentals Inc. subsidiary, is a full-line rental supplier with 453 locations across North America, and 2024 total revenues of approximately $3.6 billion.
The Simpson Thacher team includes Jonathan Corsico, Benjamin Bodurian, David Jennings, Jordon Pollard and Victoria Schmit (M&A); Joshua Bonnie, Jonathan Ozner, Katharine Thompson, Aarthy Thamodaran, Catherine Ciriello and Brice Stewart (Capital Markets); Katherine Reaves, Dennis Durkin, Alexandra Cullen and Sally Jo (Banking & Credit); Karen Kazmerzak and Nicholas Ingros (Antitrust); Jeannine McSweeney and Joshua E. Stephens (Executive Compensation and Employee Benefits); Benjamin Rippeon and Elizabeth Trask (Tax); Caroline Geiger and Dewey Kang (IP); Krista McManus, Dennis Loiacono and Helene Marie Snyder (Real Estate); and Steven DeLott (Insurance).