 |
Joele Frank handles Herc Holdings as the machinery rental giant acquires H&E Equipment Services in a $3.9B cash and stock transaction after H&E's merger deal with United Rentals fell apart.
Bonita Springs-based Herc entered the scene under a “go-shop” provision in H&E’s merger agreement with United Rentals, which then pulled its offer.
John Engquist, executive chairman of H&E, said Herc’s offer provides “both immediate, premium value and the opportunity to participate in the substantial upside value that will be created through this combination.”
His Baton Rouge company rents aerial work platforms, earthmoving, material handling and other general and specialty lines.
Herc, on behalf of H&E, paid a termination fee of $63.5M to United Rentals.
Joele Frank, Wilkinson Brimmer Katcher’s Barrett Golden, Sharon Stern, TJ O’Sullivan and Maggie Carangelo worked the Herc Holdings deal.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
Joele Frank handles C.H. Robinson Worldwide as the freight transportation company acquires RXO Inc. in a stock and cash transaction pegged at $5.8B to create a company with an enterprise value of more than $25B.
Brunswick Group handles France’s Schneider Electric as it acquires Boston’s PTC, maker of engineering software, for $22.6B cash.
