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H&E Equipment Services Inc

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H&E Equipment Services Inc - Manufacturing & Construction showcase

Year Founded & Workforce

1961

2,157 Employees

Industry

Manufacturing & Construction

Services

Global Construction Equipment Rental MarketConstruction Equipment Rental Market
H

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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.

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Key Developments

DateApproachDevelopment
September 2022AcquisitionThe 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 2022ExpansionThe company opened a new rental branch in Fairburn, Georgia.
March 2022ExpansionThe company opened a new rental branch in Philadelphia, Pennsylvania, the US.
June 2022ExpansionThe company announced the opening of its new Lakeland rental branch in Florida, the US
August 2022ExpansionThe company opened a new facility in San Antonio, Texas, the US.
April 2021ExpansionThe company announced the opening a new location in La Vergne, Tennessee, the US.
July 2021PartnershipThe company agreed to sell its crane business to Manitowoc Company Inc for US$130 million.
June 2020ExpansionH&E Equipment Services Inc. relocated its Georgetown branch to an expanded facility in Temple, Texas.
May 2020ExpansionH&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 2020ExpansionH&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 2020ExpansionH&E Equipment Services Inc. relocated its Arden branch to an expanded facility in Arden, North Carolina.
Mar 2020ExpansionH&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 2019ExpansionH&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 2019ExpansionH&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 2019AcquisitionH&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 2018ExpansionH&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 2018AcquisitionH&E Equipment Services announced it has completed its acquisition of Rental Inc.; a non-residential construction focused equipment rental company.
January 2018AcquisitionH&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

Explore key financial metrics, segmented revenue, balance sheet health, and performance trends.

By Business Segment: Sales rose from USD 1,124.8 Mn in 2019 to USD 1,244.5 Mn in 2022.
H&E Equipment Services Inc — By Business Segment
Series (USD Mn)2019202020212022
Sales1,124.81,169.11,062.81,244.5

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