H&E Equipment Services Signs Definitive Agreement To Sell Komatsu Earthmoving Distributorship – Business Wire

BATON ROUGE, La. –( )–H& E Equipment Solutions Inc. (“H& E” or the “Company”) (NASDAQ: HEES) today announced the signing of a definitive agreement to sell its Komatsu earthmoving distribution business to Houston, Texas based Waukesha-Pearce Industries, LLC (“WPI”). The transaction includes rights in order to the submission of earthmoving equipment in the state of Louisiana and counties located in southwestern Arkansas, along with a distribution facility in Kenner, Louisiana, and certain other equipment, parts plus supplies. Also, H& Electronic will assign to WPI the outstanding lease on its distribution facility in Bossier City, Louisiana. H& E will retain ownership of its rental assets located at the remaining seven rental branches inside Louisiana. The particular transaction is expected to close by December 31, 2022, subject to customary closing conditions.

Brad Barber, chief executive officer associated with H& E, stated, “Just over a year ago, we completed the particular divestitures of our crane business and Arkansas earthmoving distribution business, significantly reducing our exposure to distribution activities. With the sale of our Komatsu earthmoving distributorship within the state of Louisiana, we are effectively completing our transformation to a pure-play rental company. This final step will allow us to sharpen our focus on the higher margin rental business as we continue our evaluation of strategic-growth opportunities within the equipment local rental industry. ”

About H& Electronic Equipment Providers, Inc.

Founded in 1961, H& E Equipment Services Inc. is one of the particular largest leasing equipment companies in the nation. The Company’s fleet will be among the industry’s youngest and most versatile with a superior equipment mix comprised of aerial work platforms, earthmoving plus material handling equipment, and other general and specialty lines. H& E serves a diverse set associated with end markets in many high-growth geographies including branches throughout the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coastline, Southeast, Midwest, and Mid-Atlantic regions.

Forward-Looking Statements

Claims contained in this press release that are not historical facts, which includes statements regarding the sale of the earthmoving distribution business, further growth and expansion, and H& E’s beliefs and expectations, are “forward-looking statements” within the meaning of the particular federal securities laws. Statements containing the words “may, ” “could, ” “would, ” “should, ” “believe, ” “expect, ” “anticipate, ” “plan, ” “estimate, ” “target, ” “project, ” “intend, ” “foresee” and similar expressions constitute forward-looking statements. Forward-looking claims involve known and unknown risks plus uncertainties, which could cause actual results in order to differ materially from those contained in any forward-looking statement. Such factors include, but are not limited to, the following: (1) risks related to the impact of the COVID-19 global pandemic, such as the scope and duration from the outbreak, government actions and restrictive measures implemented in response to the particular pandemic, material delays and cancellations associated with construction or infrastructure projects, labor shortages, supply chain disruptions plus other impacts to the business; (2) general economic conditions and construction plus industrial activity within the marketplaces where all of us operate inside North America; (3) our ability to forecast trends in our business accurately, and the particular impact of economic downturns and financial uncertainty upon the markets we serve (including as a result of current uncertainty due in order to COVID-19 and inflation); (4) the effect of problems in the global credit plus commodity marketplaces (including because a result of current volatility and uncertainty within credit plus commodity markets due to COVID-19) and their effect on construction spending and the economy in general; (5) trends in oil and natural gas which could adversely affect the demand for our own services and products; (6) relationships along with equipment suppliers; (7) increased maintenance plus repair costs as we age our fleet and decreases within our equipment’s residual value; (8) the indebtedness; (9) risks associated with the expansion associated with our company and any kind of potential acquisitions we may make, including any related capital expenditures, or our ability to consummate such purchases; (10) our own possible inability to integrate any businesses we acquire; (11) competitive pressures; (12) security breaches and other disruptions in our information technology systems; (13) adverse weather events or natural disasters; (14) compliance with laws and regulations, which includes those relating to environmental matters, corporate governance matters plus tax issues, as well as any future changes to such laws and regulations; plus (15) other factors discussed within our public filings, including the particular risk factors included in the Company’s most recent Annual Report on Form 10-K. Except since required by applicable law, including the investments laws of the United States as well as the rules and regulations of the Securities plus Exchange Commission, we are usually under no obligation in order to publicly update or revise any forward-looking statements after the date of this release. Investors, potential investors along with other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance upon such forward-looking statements. These statements are based on the current values and assumptions of H& E’s management, which in turn are based on currently available information and important, underlying assumptions. H& E is usually under no obligation in order to publicly up-date or modify any forward-looking statements after this press release, whether as an outcome of any kind of new info, future occasions or otherwise. Investors, potential investors, security holders plus other visitors are advised to consider the above-mentioned factors cautiously in analyzing the forward-looking statements plus are informed not to place unnecessary reliance on such forward-looking statements.