H&E Equipment Services Inc

H&E Equipment Services Inc Overview

Company Headquarters: Los Angeles, United States

Founded: 1961

Workforce: ~ 2,157

Company Working: H&E Equipment Services Inc (H&E Equipment) is an integrated equipment company that provides rentals and sales services. The company rents, sells and provides parts and service support for new and used earthmoving equipment, material handling, forestry, concrete, industrial and heavy equipment. It offers rental equipment such as hi-lift and aerial platform equipment, cranes, light towers, industrial and material lifts, bulldozers and cement mixers generators, among others. H&E Equipment offers services such as fleet maintenance, remanufacturing, structural repair and operator and safety training, among others. The Equipment Rentals segment rents construction and industrial equipment. The New Equipment Sales segment sells new equipment in product categories. The Used Equipment Sales segment offers rental fleet and inventoried equipment that are acquired through trade-ins with its equipment customers and through purchases of high quality used equipment. The company operates through its offices in Alabama, Arizona, Arkansas, California, Colorado, Florida and other states in the US. H&E Equipment is headquartered in Baton Rouge, Louisiana, the US.

Strategy

The business strategy of the company includes: To actively leverage on the integrated business model to provide heavy construction and industrial equipment solutions to its customers, To evaluate and pursue opportunistic acquisitions that will increase its revenues, improve profitability, and help the company enter new markets and strengthen its competitive position, To strengthen its parts and services operations by maintaining strong customer relationships and attracting new customers with its high quality rental fleet, To expand its sales network into new and opportunistic regions with demand for construction and heavy equipment. H&E Equipment Services operates through five segments which include equipment rentals, new equipment sales, used equipment sales, parts sales, and repair and maintenance services. H&E sells new and used parts to customers, and also provides parts to the company’s own rental fleet. H&E provides maintenance and repair services for the customers’ owned equipment and to the company’s own rental fleet. H&E Equipment Services is engaged in providing integrated equipment services, including heavy construction and industrial equipment. The company rents, sells, and provides parts and service support for cranes, aerial platform equipment, earthmoving equipment, and industrial lift trucks. H&E has around 76 service facilities located across the US.

Company Snapshot

$1,124.76M

Revenue

2,157

Employees

1961

Founded

Los Angeles, United States

Headquarters

SWOT Analysis

Strengths

The company has a strong distribution network with 93 fullservice facilities in 23 states.
The company has strong customer relationships, including a wide range of industrial and commercial companies, construction contractors, manufacturers, etc.

Weaknesses

The company is highly dependent on the revenues from the United States.
The company heavily relies on its one specific business segment for revenue generation.

Opportunities

Currently, the company is expanding its sales network in the United States. The growing demand for construction machinery in emerging countries is expected to help the company increase its sales.
The company can tap into revenue from new markets and diversify into new product categories
Currently, the company is expanding its sales network in the United States. The growing demand for construction machinery in emerging countries is expected to help the company increase its sales

Threats

Downturns in the general economy as well as construction and manufacturing industries may affect the demand for the company’s products.
The sales of new technology products by its competitors can affect the sales of the company in the long term.

Key Developments

Date	Approach	Development
September 2022	Acquisition	The company announced the signing of a definitive agreement to acquire One Source Equipment Rental, Inc, a provider of non-residential construction and industrial equipment.
March 2022	Expansion	The company opened a new rental branch in Fairburn, Georgia.
March 2022	Expansion	The company opened a new rental branch in Philadelphia, Pennsylvania, the US.
June 2022	Expansion	The company announced the opening of its new Lakeland rental branch in Florida, the US
August 2022	Expansion	The company opened a new facility in San Antonio, Texas, the US.
April 2021	Expansion	The company announced the opening a new location in La Vergne, Tennessee, the US.
July 2021	Partnership	The company agreed to sell its crane business to Manitowoc Company Inc for US$130 million.
June 2020	Expansion	H&E Equipment Services Inc. relocated its Georgetown branch to an expanded facility in Temple, Texas.
May 2020	Expansion	H&E Equipment opened new branch in Sun Valley, CA to serve the Los Angeles market. The new facility is 15,000 sq. ft. that has fenced yard area, offices, parts warehouse, and a repair shop.
April 2020	Expansion	H&E Equipment opened a new branch in Wake Forest, NC to serve the North Raleigh market. The new facility is 16,000 sq. ft. that has fenced yard area, offices, parts warehouse, and a repair shop
Mar 2020	Expansion	H&E Equipment Services Inc. relocated its Arden branch to an expanded facility in Arden, North Carolina.
Mar 2020	Expansion	H&E Equipment opened a new branch in Bessemer, AL to serve the Birmingham market. The new facility is 26,500 sq. ft. that has fenced yard area, offices, parts warehouse, and a repair shop.
July 2019	Expansion	H&E Equipment opened new branch in Prineville, OR. The new facility is 23,500 sq. ft. that has fenced yard area, offices, parts warehouse, and a repair shop.
February 2019	Expansion	H&E Equipment opened its new branch in North Phoenix, AZ that will provide service to customers on the north side of the valley and metro Phoenix area. The new facility is 9,050-sq. ft. that has fenced yard area, offices, parts warehouse, and a repair shop.
February 2019	Acquisition	H&E Equipment acquired We-Rent-It (WRI), a nonresidential construction-focused equipment rental company in Texas with a view to expand its customer base in Texas.
June 2018	Expansion	H&E Equipment opened its new branch in Aledo, TX. The new facility is 23,840 sq. ft. that has fenced yard area, offices, parts warehouse, and a repair shop.
April 2018	Acquisition	H&E Equipment Services announced it has completed its acquisition of Rental Inc.; a non-residential construction focused equipment rental company.
January 2018	Acquisition	H&E Equipment acquired Contractors Equipment Center (CEC), a nonresidential construction focused equipment rental company, located and operating in the greater Denver, Colorado, area.

Product Offering

H&E Equipment Services Inc
- Global Construction Equipment Rental Market
- Construction Equipment Rental Market

Financial Performance

What our clients say

Trusted by forward-thinking businesses
for data-driven intelligence

Noah Malgeri

Co-Founder, Mojave Rail Fabrication Limited

This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.

Michael Robert

Manager, JavolVision

Thanks, I am so happy that we worked together. Maybe we still can work together in the future.

Joseph Aguayo

Sales Operations & Pricing Manager, Intel

Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.

Bong Lau

Sales Leader, Bamberg

We bought your "2025 report" in 2020. Everything is fine and very good.

Peter Groot Koerkamp

Account and Business Manager, EFS-Holland BV

Thanks for sending the report it gives us a good global view of the Betaïne market.

Younghwan Choi

Senior Retail Manager, LG Chem

We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.

Mark Irwin

Management Consultant, Level 21

I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.

Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!

Jason Lee

R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.

Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.