Herc Holdings To Acquire Texas-Based Cbs Rentals

Aug 17, 2021•almost 4 years ago

Acquiring Company

Herc Holdings

Acquired Company

CBS Rentals

Description

Herc Holdings Inc. (NYSE: HRI), a leading North American equipment rental supplier operating as Herc Rentals Inc., announced today that it has entered a purchase agreement to acquire substantially all the assets of Texas-based CBS Rentals (CBS). The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close prior to the end of 2021. Terms were not disclosed.

Company Information

Company

Herc Holdings

About

Herc Holdings Inc., which operates through its Herc Rentals Inc. subsidiary, is one of the leading equipment rental suppliers with 313 locations in North America. With over 55 years of experience, we are a full-line equipment rental supplier offering a broad portfolio of equipment for rent. Our classic fleet includes aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction and lighting. Our equipment rental business is supported by ProSolutions®, our industry specific solutions-based services, which includes power generation, climate control, remediation and restoration, pumps, trench shoring, studio and production equipment, and our ProContractor professional grade tools. Our product offerings and services are aimed at helping customers work more efficiently, effectively and safely. The Company has approximately 5,600 employees who equip our customers and communities to build a brighter future. Herc Holdings’ 2021 total revenues were approximately $2.1 billion. All references to “Herc Holdings” or the “Company” in this press release refer to Herc Holdings Inc. and its subsidiaries, unless otherwise indicated. For more information on Herc Holdings and its products and services, visit: www.HercRentals.com.

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High M&A Activity

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Integration timeline

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Tech stack consolidation

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Post-acquisition investment

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