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H&E Equipment Services to Acquire Contractors Equipment Center; Will Significantly Expand Presence in Colorado Market

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H&E Equipment Services, Inc. (NASDAQ:HEES) today announced its entry
into a definitive agreement to acquire Contractors Equipment Center
(CEC), a non-residential construction focused equipment rental company
located in the greater Denver, Colorado, area. Under the terms of the
agreement, H&E is expected to pay approximately $122.4 million in cash
for CEC, subject to customary adjustments. The transaction is expected
to close in the late fourth quarter of 2017, and is subject to customary
closing conditions including Hart-Scott-Rodino Act clearance.

John Engquist, H&E's Chief Executive Officer, said, "From every
perspective, we believe CEC meets the strict criteria we demand for
every acquisition. CEC is a long-term proven operator that has delivered
solid operational and financial results and possesses a
highly-experienced management team and employee base, which also shares
our culture for best-in-class commitment to customer service and safety.
As of September 30, 2017, CEC generated revenues of approximately $34.0
million for the last twelve months and its fleet size based on original
equipment cost was $84.0 million. 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. CEC's end-user markets
and fleet mix are also highly complementary to our existing business. We
welcome CEC's employees to the H&E family. We are actively evaluating
acquisitions similar to CEC that align with our growth strategy and
expand our operations."

Greg Harrington, President of CEC, commented, "This acquisition is a
significant compliment to everyone at CEC and validates our hard work
and success in the construction markets we serve in Colorado. By joining
H&E, we become part of an industry-leading integrated equipment services
company with the scale to better serve our existing customers and
further expand our presence in the vibrant Denver and surrounding
markets. We believe our employees will also benefit from broader further
career advancement opportunities."

Dechert LLP acted as legal advisor to H&E. Catalyst Strategic Advisors
acted as exclusive financial advisor to CEC, and Holland & Hart LLP
acted as exclusive legal advisor to CEC.

About H&E Equipment Services, Inc.

The Company is one of the largest integrated equipment services
companies in the United States with 80 full-service facilities
throughout the West Coast, Intermountain, Southwest, Gulf Coast,
Mid-Atlantic and Southeast regions. The Company is focused on heavy
construction and industrial equipment and rents, sells and provides
parts and services support for four core categories of specialized
equipment: (1) hi-lift or aerial platform equipment; (2) cranes; (3)
earthmoving equipment; and (4) industrial lift trucks. By providing
equipment rental, sales, on-site parts, repair and maintenance functions
under one roof, the Company is a one-stop provider for its customers'
varied equipment needs. This full service approach provides the Company
with multiple points of customer contact, enabling it to maintain a high
quality rental fleet, as well as an effective distribution channel for
fleet disposal and provides cross-selling opportunities among its new
and used equipment sales, rental, parts sales and services operations.

Forward-Looking Statements

Statements contained in this press release that are not historical
facts, including statements about H&E's beliefs and expectations, are
"forward-looking statements" within the meaning of the federal
securities laws. Statements that are not historical facts, including
statements about our beliefs and expectations are forward-looking
statements. Statements containing the words "may", "could", "would",
"should", "believe", "expect", "anticipate", "plan", "estimate",
"target", "project", "intend", "foresee" and similar expressions
constitute forward-looking statements. Forward-looking statements
involve known and unknown risks and uncertainties, which could cause
actual results to differ materially from those contained in any
forward-looking statement. Such factors include, but are not limited to,
the following: (1) the risk that any savings and synergies anticipated
from the acquisition are not realized or take longer than anticipated to
be realized; (2) the occurrence of any event, change or other
circumstances that could give rise to the termination of the purchase
agreement, the failure of the closing conditions included in the
purchase agreement to be satisfied (or any material delay in satisfying
such conditions), or any other failure to consummate the transactions
contemplated thereby; (3) the risk of unsuccessful integration of H&E's
and CEC's businesses, or that such integration will be materially
delayed or will be more costly or difficult than anticipated; (4) the
amount of the costs, fees, expenses and charges related to the
acquisition; (5) the ability to obtain required governmental approvals
of the proposed merger, including approval under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976; (6) any additional costs related to
the acquisition or the other transactions contemplated thereby as a
result of unexpected factors or events; (7) any negative effects of this
announcement or the consummation of the acquisition on H&E's or CEC's
supplier, customer or other business relationships or the market price
of H&E's common stock or other securities; (8) the diversion of
management time on transaction-related issues; (9) other business
effects, including the effects of general industry, market, economic,
political or regulatory conditions, future exchange or interest rates or
changes in tax laws, regulations, rates and policies, including the
uncertainty regarding rules and regulations with respect to the
foregoing that may be affected by the United States Congress and Trump
administration; (10) the expected business outlook, anticipated
financial and operating results of H&E generally; and (11) other factors
discussed in our public filings, including the risk factors included in
the H&E's most recent Annual Report on Form 10-K. Investors, potential
investors and other readers are urged to consider these factors
carefully in evaluating the forward-looking statements and are cautioned
not to place undue reliance on such forward-looking statements. Except
as required by applicable law, including the securities laws of the
United States and the rules and regulations of the Securities and
Exchange Commission, we are under no obligation to publicly update or
revise any forward-looking statements after the date of this release.
These statements are based on the current beliefs and assumptions of
H&E's and, as applicable, CEC's management, which in turn are based on
currently available information and important, underlying assumptions.
H&E is under no obligation to publicly update or revise any
forward-looking statements after this press release, whether as a result
of any new information, future events or otherwise. Investors, potential
investors, security holders and other readers are urged to consider the
above mentioned factors carefully in evaluating the forward-looking
statements and are cautioned not to place undue reliance on such
forward-looking statements. Although H&E and CEC believe that the
expectations reflected in the forward-looking statements are reasonable,
they cannot guarantee future results or performance, including the
consummation of the transactions contemplated by the purchase agreement
or any anticipated effects of the acquisition.

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