H&E Equipment Services purchasing J.W. Burress

H&E Equipment Services said it will acquire J.W. Burress. The acquisition is subject to several conditions, including obtaining third-party agreements from equipment manufacturers and vendors. The deal was set to close by July 31, 2007 at a purchase price of $108.7 million.

Burress is a privately owned construction equipment distributor serving the mid-Atlantic markets with 12 branches. The company's main business is selling new and used equipment, representing approximately 60% revenues. Burress represents such manufacturers as Hitachi, Manitowoc, Grove and Terex. H&E does not anticipate that Burress will continue to represent Hitachi.

“Burress is one of the premier distributors of heavy construction equipment in the US and has an outstanding reputation with the manufacturers they represent and the end users they serve,” said John Engquist, H&E president and CEO. “This acquisition will expand our footprint contiguously throughout the mid-Atlantic region and affords us significant growth opportunities.

The Orr Group represented J.W. Burress in the transaction.