On May 15, 2025, Herc Holdings Inc. (NYSE: HRI), a prominent player in the North American equipment rental market, announced a significant regulatory milestone in its planned acquisition of H&E Equipment Services, Inc. (NASDAQ: HEES). The company confirmed that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) has officially expired. This critical development paves the way for Herc to proceed with the acquisition, which is anticipated to close by early June 2025.

2. SEC Approval Secured

In conjunction with the expiration of the HSR waiting period, Herc Holdings also disclosed that the Securities and Exchange Commission (SEC) has declared its Registration Statement on Form S-4 effective. This approval is essential for the execution of the acquisition and indicates that the SEC has completed its review of the necessary documents related to the transaction.

3. What’s Next for Herc Holdings?

The successful satisfaction of these regulatory conditions brings Herc Holdings one step closer to finalizing the acquisition of H&E Equipment Services. The completion of the transaction is contingent upon a majority of H&E’s shares being tendered into the offer and the fulfillment of customary closing conditions. This acquisition represents a strategic move for Herc Holdings, reinforcing its position in the equipment rental sector.

4. The Scale and Impact of the Acquisition

Herc Holdings operates through its subsidiary, Herc Rentals Inc., and boasts an extensive network of 453 locations across North America. The company reported total revenues of approximately $3.6 billion in 2024, underscoring its robust market presence. The acquisition of H&E Equipment Services is expected to not only enhance Herc’s operational capabilities but also broaden its customer base and product offerings, which include aerial, earthmoving, and material handling equipment, among other solutions.

5. Aiming for Efficiency and Safety

Herc has long been committed to providing products and services designed to help customers operate more efficiently, effectively, and safely. With the addition of H&E’s extensive inventory and services, Herc aims to strengthen its ProSolutions® offering, which encompasses industry-specific solutions, equipment for power generation, climate control, remediation, and restoration services. This strategic alignment is expected to enhance customer experience and operational efficiency.

6. A Bright Future Ahead

With approximately 7,600 employees dedicated to equipping customers and communities, Herc Holdings is poised for growth and innovation in the equipment rental industry. The upcoming acquisition of H&E Equipment Services not only signifies Herc’s commitment to expansion but also its vision of building a brighter future through enhanced service offerings and operational excellence.

As the acquisition process unfolds, stakeholders and industry analysts will keenly observe Herc Holdings' next steps and the potential impacts on the broader equipment rental market.

Original press release