H&E opens new rental depot in Texas

H&E Equipment Services, Inc. (H&E) opened a new location in Midland, TX. This new store joins seven other full-service H&E operations in Texas and 65 nationwide. The company said the store's opening follows its proposed growth strategy plan which it recently announced.

The new Midland branch is located at 9001 West County Road 127, Midland, TX, 79706, phone 432-741-4700. The facility is 11,000 square feet on 5 acres and has been designed and newly constructed to serve equipment customers. It has office space for sales and rentals, in addition to large shop, parts and yard areas. The store will specialize in aerial lifts, telescopic forklifts, compact and some large earthmoving equipment, along with general construction equipment, including generators, compressors, concrete equipment, light towers, and more. Crane products and services for the area will continue to be provided by H&E's crane division store in Dallas.

"We have visited and surveyed customers and determined that our full-service business model is exactly what they are after in an equipment supplier. We not only offer rentals, but new and used equipment sales, in-shop and mobile service and repair, a large parts inventory, training and many other value-added services. We feel the business climate and opportunity is prime to become involved in the Midland-Odessa, Texas area," said Joe Mancaruso, H&E Midland Branch Manager.

Products will be offered from the following manufacturers: JLG, Genie, Atlas Copco, Skytrak, Skyjack, Multiquip, Wacker Neuson, Gehl, Takeuchi, Yanmar and others. Manitowoc, Grove and Manitex crane products and services for the area will continue to be provided by H&E's crane division store in Dallas.

In June, H&E Equipment Services started an "aggressive" recruitment program to add senior executives, branch managers and sales representatives in support of its US rental expansion.

The company, which is seeing increased demand for its rental services, is seeking to add rental locations to strengthen its network. The company has 65 locations, with most of its revenues generated in the Gulf Coast and intermountain regions of the USA.

It is looking for new locations and will make acquisitions where opportunities arise.

Brad Barber, chief operating officer of H&E Equipment Services, said, "With the strength of our balance sheet and existing relationships we are well positioned to take advantage of, what we see as, the continuing improvement in the rental sector by organically enlarging our footprint in line with our previously disclosed growth strategy."

The business, based in Baton Rouge, Louisiana, reported a 28% increase in rental revenues in 2011 and said it will "significantly" increase fleet capital expenditure this year from the $155 million gross investment in 2011.

H&E is benefiting in particular from energy-related activity in the Gulf Coast and intermountain areas.