MATERIALS, CONSTRUCTION

H&E Equipment Services Signs Definitive Agreement To Acquire One Source Equipment Rental, Inc.

H&E Equipment Services | September 20, 2022 | Read time : 01:37 min

H&E Equipment News
H&E Equipment Services, Inc. (“H&E” or the “Company”) (NASDAQ: HEES) today announced the signing of a definitive agreement to acquire One Source Equipment Rental, Inc. (“One Source”), a provider of non-residential construction and industrial equipment with operations in the Midwest and Southern U.S. One Source, which is employee owned, operates 10 branches, including three locations in each of Illinois and Indiana, two locations in Tennessee and one in each of Kentucky and Alabama. Under the terms of the definitive agreement, H&E is expected to pay $130 million in cash for One Source, before customary adjustments. The transaction is expected to close during the fourth quarter of 2022, following regulatory clearance and the completion of other customary closing conditions.

“For more than 20 years, One Source has emphasized a culture where equipment reliability and customer support and satisfaction are vital features for success, resulting in an equipment rental operation with strong consumer loyalty throughout its branch network. These important attributes, which are underscored by a dedicated base of employee owners, offer an exceptional cultural fit with H&E. Also, the transaction will expand our geographic footprint into the Midwest with operations in Illinois and Indiana, as well as operations in Kentucky. Finally, the demonstrated success of our accelerated warm start plan, with 15 warm start and greenfield locations established since early 2021, will prove beneficial as we evaluate post-integration growth opportunities in the Midwest and other surrounding regions with attractive prospects for expansion.”

-Brad Barber, Chief Executive Officer of H&E Equipment Services.

Over the last twelve months ended July 31, 2022, One Source has generated revenues of approximately $59 million with a fleet size, as measured by original equipment cost (OEC), of approximately $138 million. One Source’s fleet consists primarily of aerial work platforms, material handling equipment and other general equipment lines.

About H&E Equipment Services, Inc:
Founded in 1961, H&E Equipment Services, Inc. is one of the largest rental equipment companies in the nation. The Company’s fleet is among the industry’s youngest and most versatile with a superior equipment mix comprised of aerial work platforms, earthmoving, material handling, and other general and specialty lines. H&E serves a diverse set of end markets in many high-growth geographies including branches throughout the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast States, Southeast, Midwest, and Mid-Atlantic regions.

Spotlight

The global construction industry needs to build 13,000 buildings each day between now and 2050 to support an expected population of 7 billion people living in cities 10 billion worldwide. But while the need for new housing, schools, and hospitals is paramount, buildings are only half of the story.

Spotlight

The global construction industry needs to build 13,000 buildings each day between now and 2050 to support an expected population of 7 billion people living in cities 10 billion worldwide. But while the need for new housing, schools, and hospitals is paramount, buildings are only half of the story.

Related News

PRODUCTS, ENGINEERING TECH, CONSTRUCTION

iOffice + SpaceIQ Leverages Strategic Alliance with Autodesk to Bring Digital Twin Technology to Building Operators

Autodesk | September 28, 2022

iOffice + SpaceIQ, the global workplace technology company, has announced the release of Building Information Modeling (BIM) Viewer, which will leverage digital twins — digital representations of company assets and facilities — to transform and optimize operational performance. With the introduction of BIM Viewer, iOffice + SpaceIQ aims to help businesses eliminate operations blind spots by making it easier to connect asset and facilities data — enabling users to explore, locate, interact with, and report on space and asset data that was previously difficult to access. By reducing the knowledge gaps that occur in the handover from construction to operations, BIM Viewer businesses run their facilities and equipment as intended, ultimately contributing to a lower carbon future. Last year, iOffice + SpaceIQ announced a strategic investment by Autodesk to enhance the integration between Autodesk's BIM platform and Archibus, iOffice + SpaceIQ's integrated workplace management system. This release marks a major step forward for digital transformation initiatives in the historically fragmented building lifecycle by addressing several key challenges companies face when considering the implementation of digital twins, including difficulty with integration, overall system complexity, and the time and cost of building out the digital twin. The Archibus BIM Viewer uses Autodesk Forge® APIs to render BIM models stored in Autodesk Construction Cloud® or Autodesk Build, speeding the set-up process and significantly reducing the time it takes to train operations teams to use the technology. BIM Viewer enhances 3D BIM models with asset, operations, and space data, allowing asset and maintenance managers to quickly explore where their assets are, how they connect, which areas need attention, and how they impact the building and the business. By combining the power of design, operational, and performance data into a single platform, users will be able to improve efficiency and make smarter, more strategic decisions about their portfolios. "The voice of our customers drove us to find a new way to provide richer and more connected building and asset data. We're proud to be an innovator in this industry, BIM Viewer will ease the challenges many users have faced when adopting and deploying digital twin strategies, enabling companies to get up to speed on digital twin technology faster — with less complexity and quicker implementation." -Brandon Holden, Chief Executive Officer of iOffice + SpaceIQ. The new offering arrives amid growing interest in digital twins and calls to ramp up digital transformation initiatives. According to a recent Microsoft report, the adoption of digital twins has lagged behind other digital investments due to difficulties with integration and internal skill gaps. About iOffice + SpaceIQ: iOffice + SpaceIQ empowers how tomorrow will work, helping employees and companies adapt and thrive to produce better outcomes for the world. Our smart workplace technology enables over 10,000 organizations in 85 countries to improve business performance through intuitive, people-first space planning and operations. More than 2M end users rely on iOffice + SpaceIQ platforms to optimize more than 2B square feet of space valued at more than $64B, maintain mission-critical assets, and enhance how people interact with the workplace.

Read More

CONSTRUCTION

Trimble and HP Collaborate to Explore the Use of Robotic Technology for Autonomous Indoor Construction Layout

Trimble | November 09, 2022

Trimble (NASDAQ: TRMB) and HP are collaborating on the integration of Trimble's latest robotic total station with HP's new SitePrint robotic layout solution. The solution focuses on transforming the layout process for indoor construction projects. The construction industry faces a variety of challenges including the shortage of skilled workers and productivity. HP and Trimble can address these challenges with an integration of HP SitePrint and the recently introduced Trimble® Ri total station. The integrated solution can deliver an autonomous layout workflow that empowers efficiency and productivity on the job, while delivering layouts faster than traditional methods. Augmenting the contractors' work, SitePrint can avoid obstacles and print lines and complex objects with pinpoint accuracy and consistent repeatability. In addition, text printing capabilities bring additional data from the digital model to the construction site to prevent errors. Using optical technology, the precise positioning and navigation of HP SitePrint robot is driven by the Trimble Ri total station. Equipped with automatic level detection, self-calibration, and Trimble VISION™ technology for advanced tracking, the Trimble Ri enables the HP SitePrint robot to achieve autonomous, high-accuracy indoor layout work. "The integration of Trimble Ri and HP SitePrint can transform the layout process on complex construction sites with pinpoint accuracy, and in a fraction of the time, This is an opportunity for layout contractors to improve accuracy and productivity and handle more projects with the same size of team." -Aviad Almagor, vice president of Technology Innovation, Trimble. Technology adoption and increased digitization can help construction firms bridge this productivity gap, said Daniel Martínez, vice president and general manager, HP Large Format Printing. HP has played a key role in bridging digital and physical worlds with print solutions for architects and engineers over the last thirty years. With the integration between HP SitePrint and Trimble Ri, we can make it easier than ever for layout professionals to bring an idea to life on site, while also enabling increased digitization of the construction industry as a whole. About HP: HP Inc. is a technology company that believes one thoughtful idea has the power to change the world. Its product and service portfolio of personal systems, printers, and 3D printing solutions helps bring these ideas to life. About Trimble: Trimble is an industrial technology company transforming the way the world works by delivering solutions that enable our customers to thrive. Core technologies in positioning, modeling, connectivity and data analytics connect the digital and physical worlds to improve productivity, quality, safety, transparency and sustainability. From purpose-built products to enterprise lifecycle solutions, Trimble is transforming industries such as agriculture, construction, geospatial and transportation.

Read More

ENGINEERING TECH, CONSTRUCTION

Converge Technology Solutions Corp. Acquires Newcomp Analytics

Newcomp Analytics | September 13, 2022

Converge Technology Solutions Corp. ("Converge" or "the Company") (TSX: CTS) (FSE: 0ZB) ( OTCQX: CTSDF) a software-enabled IT & Cloud Solutions provider, is pleased to announce it has acquired Canada-based Newcomp Analytics, an analytics centered organization focused on helping businesses transform and grow in today's digital world. Headquartered in Toronto, and serving hundreds of clients across Canada, US and the Caribbean, Newcomp Analytics assists organizations in building a map to deeper analytics while providing teams with the tools they need to tackle big data projects with confidence. Newcomp Analytics has engaged in significant deployments with businesses across 15+ industries, including government, banking, education, healthcare, financial services, retail, and the public sector. The company offers advisory and development services, along with managed analytics and analytic bootcamps. Newcomp Analytics solution offerings include AI & Machine Learning, Data Engineering, BI & Data Visualization, Financial Planning & Analytics, and Cloud. "Newcomp Analytics is very excited to be welcomed into the Converge family, allowing us to bring our modern data analytics expertise to the global marketplace. Converge's broad technology partnerships and strong client base present a significant opportunity for our team to continue our journey as a trusted analytics advisor to clients across all industries." -Michael Langton, President of Newcomp Analytics. Converge is excited to expand our advanced analytics portfolio and offerings with the addition of Newcomp Analytics, stated Greg Berard, President and North American CEO of Converge. Newcomp Analytics will greatly enhance Converge's ability to help our clients become even more insight-driven and dive deeper into understanding and analyzing their data. Their technical expertise and years of experience will help us drive more value in Canada with our clients and give us more depth and breadth across our North American analytics organization. Newcomp Analytics marks the thirty-fourth acquisition announced by Converge or its affiliates since October 2017. Converge's family of companies also includes Corus Group, LLC; Northern Micro, Inc.; 10084182 Canada Inc. operating as Becker-Carroll; Key Information Systems, Inc.; BlueChip Tek, Inc.; Lighthouse Computer Systems, Inc.; Software Information Systems LLC.; Nordisk Systems, Inc.; Essex Technology Group, Inc.; Datatrend Technologies, Inc.; VSS, LLC; Solutions PCD, Inc.; Unique Digital, Inc.; Workgroup Connections, Inc.; Vivvo Application Studios LTD.; Vicom Computer Services, Inc.; CarpeDatum LLC; Accudata Systems, Inc.; Dasher Technologies, Inc.; ExactlyIT, Inc.; REDNET GmbH; Vicom Infinity, Inc.; Infinity Systems Software, Inc.; LPA Software Solutions, LLC; OPIN Digital, Inc; Paragon Development Systems, Inc.; Visucom GmbH; 1CRM Systems Corp.; Interdynamix Systems; Creative Breakthroughs, Inc.; PC Specialists, Inc. d/b/a Technology Integration Group; GfdB, ImfB, and DEQSTER; and Notarius. About Newcomp Analytics: Headquartered in Toronto, Canada Newcomp Analytics is an analytics-driven organization focused on providing solutions specific to business needs by creating an analytics roadmap to long-term success. With hundreds of deployments across 15+ industries, Newcomp Analytics helps reduce the complexity of big data and provide organizations with the tools needed to tackle projects with confidence. Newcomp Analytics' services and solutions build a map to deeper analytics and allow organizations to become insight-driven with strong analytical capabilities. About Converge: Converge Technology Solutions Corp. is a software-enabled IT & Cloud Solutions provider focused on delivering industry-leading solutions and services. Converge's global solution approach delivers advanced analytics, application modernization, cloud platforms, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. The Company supports these solutions with advisory, implementation, and managed services expertise across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors.

Read More