M&A Deal Summary

Manitowoc Acquires H&E Equipment Services - Crane Business

On July 20, 2021, Manitowoc acquired business services company H&E Equipment Services - Crane Business from H&E Equipment Services for 130M USD

Acquisition Highlights
  • This is Manitowoc’s 1st transaction in the Business Services sector.
  • This is Manitowoc’s 2nd largest (disclosed) transaction.
  • This is Manitowoc’s 2nd transaction in the United States.
  • This is Manitowoc’s 1st transaction in Louisiana.

M&A Deal Summary
Date 2021-07-20
Target H&E Equipment Services - Crane Business
Sector Business Services
Buyer(s) Manitowoc
Sellers(s) H&E Equipment Services
Deal Type Divestiture
Deal Value 130M USD

Target

H&E Equipment Services - Crane Business

Baton Rouge, Louisiana, United States
H&E Equipment Services' Crane Business provides rentals, new sales, used sales, aftermarket parts, and service to a variety of end-market customers.

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Buyer(S) 1

Buyer

Manitowoc

Milwaukee, Wisconsin, United States
Category Company
Founded 1902
Sector Machinery
Employees4,800
Revenue 2.2B USD (2023)
DESCRIPTION

Manitowoc is a manufacturer of crawler cranes, tower cranes, and mobile cranes for the heavy construction industry, which are complemented by product support services. Manitowoc also manufactures commercial food service equipment. Manitowoc was founded in 1902 and is based in Milwaukee, Wisconsin.

DEAL STATS #
Overall 3 of 4
Sector (Business Services) 1 of 1
Type (Divestiture) 1 of 1
State (Louisiana) 1 of 1
Country (United States) 2 of 3
Year (2021) 1 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-07 KPS Global

Forth Worth, Texas, United States

KPS Global is a manufacturer of insulated panel systems, supplier of aftermarket parts/replacement equipment and provider of installation services. KPS Global is based in Forth Worth, Texas.

Sell $85M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-16 Aspen Equipment

Bloomington, Minnesota, United States

Aspen Equipment is a crane dealer and a final-stage, purpose-built work truck upfitter. Aspen's inventory consists of boom trucks, grapples, cranes, snowplows, truck bodies, Doosan air compressors, loaders, and more. Aspen Equipment was founded in 1926 and is based in Bloomington, Minnesota.

Buy $51M

Seller(S) 1

SELLER

H&E Equipment Services

Baton Rouge, Louisiana, United States
Category Company
Founded 1961
Sector Business Services
Employees2,765
Revenue 1.5B USD (2023)
DESCRIPTION
H&E Equipment Services' corporate headquarters in Baton Rouge, Louisiana.
H&E Equipment Services' corporate headquarters in Baton Rouge, Louisiana.

H&E Equipment Services is a US-integrated equipment services company focused on heavy construction and industrial equipment. H&E rents, sells and provides parts and services support for four core categories of specialized equipment. These include hi-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks. H&E Equipment Services was founded in 1961 and is based in Baton Rouge, Louisiana.

DEAL STATS #
Overall 1 of 1
Sector (Business Services) 1 of 1
Type (Divestiture) 1 of 1
State (Louisiana) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-08 We-Rent-It

Bastrop, Texas, United States

We Rent It Equipment & Tool Rentals is a non-residential construction-focused equipment rental company with six branches serving the growing central Texas market. We-Rent-It is based in Bastrop, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-19 One Source

Plainfield, Illinois, United States

One Source is a provider of non-residential construction and industrial equipment with operations in the Midwest and Southern U.S. The company is employee-owned that operates 10 branches, including three locations in each Illinois and Indiana, two locations in Tennessee, and one in each Kentucky and Alabama. One Source is based in Plainfield, Illinois.

Buy -
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