HERC HOLDINGS INC (HRI): M&A transaction — Herc Holdings completes acquisition of H&E Equipment Services for $78.75 cash + 0.1287 shares per share

HERC HOLDINGS INC

Completed acquisition of H&E Equipment Services; H&E stockholders received $78.75 cash + 0.1287 Herc shares per share.
Issued $1.65B 7.000% senior notes due 2030 and $1.1B 7.250% senior notes due 2033.
Entered new $4B ABL credit facility maturing 2030 and $750M term loan facility maturing 2032.
Borrowed $2.538B under new ABL to refinance prior ABL and finance the acquisition.
Appointed John M. Engquist (former H&E board member) to Herc Board, expanding size to eight.

item 1.01 item 1.02 item 2.01 item 2.03 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

John M. Engquist

Director

HRI · HERC HOLDINGS INC

Effective: 2025-06-02
Filed: June 2, 2025, 7:59 PM ET

On May 29, 2025, the Company expanded the size of its Board of Directors (the “Board”) from seven members to eight members and, under the terms of the Merger Agreement, appointed Mr. John M. Engquist (who previously served as a member on the H&E board of directors) to the Board.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HERC HOLDINGS INC incurred revolving credit of up to $4,000 million with JPMorgan Chase Bank, N.A., as agent at Term SOFR plus 1.375% per annum or base rate plus 0.375% maturing June 2, 2030.

Instrument: revolving credit
Principal: up to $4,000 million
Counterparty: JPMorgan Chase Bank, N.A., as agent
Rate: Term SOFR plus 1.375% per annum or base rate plus 0.375%
Maturity: June 2, 2030
Event: incurrence

Exact text from the filing

2024, which are incorporated by reference herein. The New ABL Credit Facility provides (subject to availability under a borrowing base) for aggregate maximum borrowings of up to $4,000 million under a revolving loan facility, with commitments in a maximum aggregate principal amount of $3,600 million available to U.S. borrowers and $400 million available to Canadian

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Executive change SEC 8-K Item 5.02 confidence 0.95

John M. Engquist was appointed as Director at HERC HOLDINGS INC.

Action: appointed
Role: Director

Exact text from the filing

On May 29, 2025, the Company expanded the size of its Board of Directors (the “Board”) from seven members to eight members and, under the terms of the Merger Agreement, appointed Mr. John M. Engquist (who previously served as a member on the H&E board of directors) to the Board.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

HERC HOLDINGS INC completed an acquisition involving H&E Equipment Services, Inc. for $78.75 in cash and 0.1287 shares of the Company’s common stock (closed 2025-06-02).

Action: acquisition
Counterparty: H&E Equipment Services, Inc.
Consideration: $78.75 in cash and 0.1287 shares of the Company’s common stock
Closing: 2025-06-02

Exact text from the filing

to acquire any and all of the issued and outstanding shares of H&E’s common stock, par value $0.01 per share (“H&E shares”), in exchange for, on a per-H&E share basis, (i) $78.75 in cash, without interest, less any applicable withholding of taxes (the “Cash Offer Price”), and (ii) 0.1287 shares of the Company’s common stock, par value $0.01 per share,

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101 debt financings filed in the last 30 days. Browse all debt financings →

HERC HOLDINGS INC filing history →

Source: SEC EDGAR

accession 0001193125-25-133360

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