Lee County equipment supplier buys firm for $3.8B after previous deal collapses

A Bonita Springs business that posted nearly $3.6 billion in revenue last year has entered into a agreement to buy a Louisiana rental equipment company for $3.83 billion. 

Herc Holdings will acquire Baton Rouge-based H&E Equipment Services in a transaction expected to close in mid-2025, according to a statement. 

The deal comes after a twist: H&E had a prior merger agreement with a competitor of Herc, United Rentals, that it terminated. Herc paid a termination fee of more than $63.52 million on behalf of H&E, according to a statement.