Guess it depends on its depth and the depth to ground water. Plus consideration of the type of lift that will be installed.
I can't say if it's routine practice.
I would consider the need dictated by the conditions and the value of what is sitting in the pit.
Waterproofing or not, if it's not in the desert, I would still slope the pit bottom to a low point and call for a sump. If you ever need it, great. It may be helpful in the event of fluid spills.
I might consider the waterproofing admixture if the ground water was shallow and the equipment valuable. I would call for a volclay style waterstop between the bottom slab and the walls though, and I would reinforce and forgo with the fibermesh.
Ralph
Structures Consulting
Northeast USA