Manitowoc Completes Acquisition of the Crane Business of H&E Equipment Services, Inc.

MILWAUKEE, October 01, 2021–(BUSINESS WIRE)–The Manitowoc Company, Inc. (NYSE: MTW) (the “Company” or “Manitowoc”), a leading global manufacturer of cranes and lifting solutions, announced the closing of the acquisition of the crane business of H&E Equipment Services, Inc. (“H&E”) (NASDAQ: HEES), one of the largest rental equipment companies in the U.S., for approximately $130 million, subject to the finalization of net working capital and other transaction adjustments.

“We are excited to welcome the H&E crane team to the Manitowoc family. The acquisition of the H&E crane business advances our strategy to expand our aftermarket activities within a significant geographic region. The crane business will operate under our new wholly-owned subsidiary, MGX Equipment Services, LLC. Together, we are in a stronger position to continue delivering industry-leading products and support for our customers while growing shareholder value,” commented Aaron H….

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