---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-133360"
form_type: "8-K"
ticker: "HRI"
cik: "0001364479"
company_name: "HERC HOLDINGS INC"
filed_at: "2025-06-02T23:59:59+00:00"
generated_at: "2026-05-20T02:31:58.430872+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Herc Holdings completes acquisition of H&E Equipment Services for $78.75 cash + 0.1287 shares per share

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-133360
- form_type: 8-K
- ticker: HRI
- cik: 0001364479
- company_name: HERC HOLDINGS INC
- filed_at: 2025-06-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 1.02, 2.01, 2.03, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1364479/000119312525133360/0001193125-25-133360-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1364479/000119312525133360/d943577d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-133360
- JSON: https://secwatch.observer/filing/0001193125-25-133360.json
- Plain text: https://secwatch.observer/filing/0001193125-25-133360.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1364479/000119312525133360/0001193125-25-133360-index.htm
- Executive change
  John M. Engquist was appointed as Director at HERC HOLDINGS INC.
  - Action: appointed
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1364479/000119312525133360/0001193125-25-133360-index.htm
- M&A Transactions
  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
  source text: 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,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1364479/000119312525133360/0001193125-25-133360-index.htm

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