H&E Equipment to draw on existing facility for Burress purchase

By Sara Rosenberg

New York, May 16 - H&E Equipment Services Inc. plans to use borrowings under its existing credit facility to fund the $108.7 million acquisition of J.W. Burress Inc., according to a company news release.

The acquisition is subject to completing Burress' 2006 audit, obtaining certain third-party consents, closing no later than July 31 and other customary closing conditions.

H&E is a Baton Rouge, La., equipment services company. Burress is a Roanoke, Va., construction equipment distributor.

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