Dechert advised H&E Equipment Services on the deal.
H&E Equipment Services, Inc. signed the definitive agreement to sell its crane business to a wholly-owned subsidiary of The Manitowoc Company, Inc. for US$130 million in cash. The transaction is expected to close during the fourth quarter of 2021, subject to customary closing conditions, including regulatory approval under the Hart-Scott-Rodino Act.
H&E Equipment Services, Inc. is one of the largest integrated equipment services companies in the United States with 105 full-service facilities throughout the West Coast, Intermountain, Southwest, Gulf Coast, Mid-Atlantic and Southeast regions of the United States.
The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer with nearly 100 manufacturing, distribution, service, and/or office facilities in 26 countries. It is recognized as one of the world’s largest providers of lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks.
The Dechert team included corporate partners Derek Winokur (Picture) and associates Jake Greenberg, Eddie Iqbal, Ji Hong Park, Shannon Footer, Wangshu Tai, Nicholas Chionchio and Cesar Sanchez; employee benefits partner Howard Klein and associates Michael Binko and Baraka Nasari, antitrust partner Mike Cowie, counsels Beverly Ang and Michael Okkonen, and associate Samuel Stelk; environmental special counsel John Ix; IP partner Thomas Rayski and associate Frank Hwang; trade partner Darshak Dholakia; tax associate George Davis; labor counsel Ian Downes; and real estate special counsel Francois Quintard-Morenas.
Involved fees earner: Beverly Ang – Dechert; Michael Binko – Dechert; Nicholas Chionchio – Dechert; Mike Cowie – Dechert; Darshak Dholakia – Dechert; Ian Downes – Dechert; Shannon Footer – Dechert; Jake Greenberg – Dechert; Frank Hwang – Dechert; Eddie Iqbal – Dechert; John Ix – Dechert; Howard Kleinman – Dechert; Baraka Nasari – Dechert; Michael Okkonen – Dechert; Ji Hong Park – Dechert; Francois Quintard-Morenas – Dechert; Thomas Rayski – Dechert; Cesar Sanchez – Dechert; Samuel Stelk – Dechert; Wangshu Tai – Dechert; Derek Winokur – Dechert; George Davis – Simpson Thacher & Bartlett;
Clients: H&E Equipment Services;