CEC: H&E Equipment to acquire Contractors Equipment for $122M

COMMERCE CITY - Contractors Equipment Center LLC, a Commerce City-based equipment-rental company, has signed a definitive agreement to be acquired by Baton Rouge, La.-based H&E Equipment Services Inc. (Nasdaq: HEES) for $122.4 million in cash. The deal is expected to close before the end of 2017. CEC operates centers at 1645 First Ave. in Greeley and 2240 I-25 East Frontage Road in Erie, with plans for new locations in Fort Collins and Colorado Springs. The company focuses on non-residential, construction-focused equipment rental. H&E operates locations at 5874 Langley Ave. in Loveland, with additional locations in Henderson and Colorado Springs. "With the addition of CEC, we will double our branch count to six in Colorado, significantly expanding our presence in a high-growth construction market," John Engquist, H&E's CEO, said in a prepared statement. "CEC's end-user markets and fleet mix are also highly complementary to our existing business."The post H&E Equipment to acquire Contractors Equipment for $122M appeared first on BizWest.