---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-029600"
form_type: "8-K"
ticker: "HRI"
cik: "0001364479"
company_name: "HERC HOLDINGS INC"
filed_at: "2025-02-19T23:59:59+00:00"
generated_at: "2026-05-26T10:47:37.397506+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Herc Holdings to acquire H&E Equipment Services for $104.89/share; expects $300M EBITDA synergies

## Summary
- Herc acquires H&E for $78.75 cash + 0.1287 Herc shares per share; total value $104.89/share (10-day VWAP).
- H&E shareholders will own ~14.1% of combined company; transaction expected to close mid-2025.
- Expected $300M annual EBITDA synergies by year 3: $125M cost, $175M revenue; accretive >20% to cash EPS.
- Pro forma combined revenue ~$5.2B, EBITDA ~$2.5B; net leverage 3.8x at close, below 3.0x in 24 months.
- Herc paid $63.5M termination fee to United Rentals on behalf of H&E.

## SEC filing metadata
- accession: 0001193125-25-029600
- form_type: 8-K
- ticker: HRI
- cik: 0001364479
- company_name: HERC HOLDINGS INC
- filed_at: 2025-02-19T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1364479/000119312525029600/0001193125-25-029600-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1364479/000119312525029600/d866359d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-029600
- JSON: https://secwatch.observer/filing/0001193125-25-029600.json
- Plain text: https://secwatch.observer/filing/0001193125-25-029600.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.