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Between 2016 and 2020, the company spent $ 1.8 billion into expanding its rental fleet. The company invested between $ 525 and $ 575 million into its rental fleet in 2021, and over $ 1 billion in 2023. During this time, the company's revenue and earnings have increased. Its yearly earnings increased
247:, including hiring a new executive team, opening new branches, and increasing the company's salesforce by 50%. He also diversified the company's revenues with the introduction of new products such as power tools, climate control, power generators, commercial vehicles, and other specialty equipment.
27:
235:
HERC as a separate publicly traded company. The spin-off raised $ 2 billion for Hertz to reduce its own debt. On July 1, 2016, Herc
Rentals Inc. became an independently traded company (NYSE: $ HRI). It is currently owned by Herc Holdings.
239:
Lawrence Silber became head of the company in 2015 and led it during the transition, becoming CEO and president after the spinoff. The company was renamed Herc
Rentals, based on the acronym for its previous name.
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After spinning off, Herc
Rentals has acquired a number of other companies, including CBS Rentals, All-Star Rents, Dwight Crane, Reliable Equipment, All Reach, and Champion Rentals.
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223:. The company generated over $ 1.5 billion in revenue in 2013, which was 14% of Hertz's total revenue. Its annual revenue had increased to $ 1.7 billion by 2015.
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It primarily serves companies in the construction, manufacturing, energy, civil infrastructure, agriculture, and entertainment industries.
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208:. It was originally named Hertz Equipment Rental Corporation (HERC). It was the second largest equipment rental company as of 1994.
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It is currently one of the largest equipment rental companies in the world and operates in the United States and Canada.
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by 28% in 2021, and by 35% in 2022. The company continued to grow in 2023, when its revenues increased by 18%.
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1016:"No end in sight: Herc's growth story continues with record revenue, profits in second quarter"
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is an equipment rental company, owned by Herc
Holdings. It was formerly a subsidiary of
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1031:"Bonita Springs-based Herc Holdings announces the completion of another acquisition"
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558:"New name, new vision, new products are getting Herc Rentals back on track"
1001:"Bonita-based Herc Holdings eyes growth with acquisition of Texas company"
804:"Herc Rentals has no fear of promoting union workers to management roles"
188:, tools, power generators and pumps, as well as sales of used equipment.
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986:"Bonita Springs-based Herc reports record revenues, profits for 2021"
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Profile of the
International Pump Industry - Market Prospects to 2007
911:"Herc narrows losses, completes last step in separation from Hertz"
834:"Bonita-based Herc announces ambitious three-year plan for growth"
687:"Hertz to raise $ 2.5 billion through equipment business spinoff"
1074:"Herc Holdings acquires Houston-based rental equipment business"
859:"Bonita-based rental company Herc Holdings posts record results"
612:"Hertz to spin off equipment rental business for $ 2.5 billion"
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as a separate company in 2016. The company provides rentals of
341:"Hertz spinning off its equipment rental business - CBS News"
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Silber instituted a number of changes to the company and its
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313:
McManus, John; Winroth, Mats; Angelis, Jannis (2019-10-12).
1045:"Equipment giant makes acquisition, expands in New England"
779:"Larry Silber, CEO of Herc Rentals, Sees New Opportunities"
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In 2014, it was announced that Hertz Global planned to
883:"Hertz Equipment Rental Spin-off Creates Herc Rentals"
316:
Service
Operations Management: A Strategic Perspective
396:"Hertz split official: Equipment, car rental parting"
370:. Hoover's, Incorporated. December 2004. p. 2.
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considered acquiring HERC in 2002 but opted not to.
1088:"Hertz to spin-off rental business in $ 2.5bn deal"
662:"Hertz close to $ 4.5bn equipment rentals spin-off"
204:The company was founded in 1965 as a subsidiary of
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960:"U.S. rental giants seeing record-breaking growth"
588:"Herc finds its own way as a stand-alone company"
1123:Companies listed on the New York Stock Exchange
293:"Herc Holdings Reports Strong Full Year 2023"
215:In 2013, HERC's headquarters were moved from
8:
935:"Top 10 US-based equipment rental companies"
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367:Hoover's Handbook of American Business 2005
319:. Bloomsbury Publishing. pp. 242–244.
705:"Hertz spins off equipment rental as Herc"
25:
18:
755:"Hertz Details Equipment Company Spinoff"
420:"Hertz announces equipment hire spin-off"
1118:Construction equipment rental companies
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1133:Companies based in Lee County, Florida
1128:American companies established in 1965
115:Lawrence H. Silber (CEO and president)
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503:. Gale Research. 1994. p. 1145.
471:Pasiuk, Laurie; Vault (Firm) (2006).
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832:Layden, Laura (September 22, 2021).
685:Raghavan, Mridula (March 18, 2014).
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637:"Hertz to spin off gear-rental arm"
500:Encyclopedia of American Industries
14:
16:American equipment rental company
802:Pizzutillo, Rich (2018-03-20).
729:"Hertz spins off equipment arm"
556:Pizzutillo, Rich (2018-03-20).
165:Footnotes / references
1:
227:Spin-off and recent history
87:; 59 years ago
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477:. Vault Inc. p. 70.
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123:$ 3.2 billion (2023)
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524:Reidy, R. (2002-12-13).
530:. Elsevier. p. 7.
104:Bonita Springs, Florida
1059:"Hertz Buys All Reach"
693:. pp. 2024–03–06.
217:Park Ridge, New Jersey
206:The Hertz Corporation
178:The Hertz Corporation
76:The Hertz Corporation
1092:Financier Worldwide
129:Number of employees
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709:www.naplesnews.com
210:Ford Motor Company
915:Naples Daily News
753:Hufford, Austen.
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592:Naples Daily News
537:978-0-08-094924-6
510:978-0-7876-9062-5
484:978-1-58131-385-7
451:Business Observer
447:"The other Hertz"
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245:corporate culture
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155:.hercrentals
100:Headquarters
34:Company type
20:Herc Rentals
72:Predecessor
1112:Categories
1097:2024-04-11
970:2024-04-11
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920:2024-04-11
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424:www.ft.com
405:2024-04-11
351:2024-04-11
261:References
111:Key people
400:USA TODAY
46:Traded as
233:spin-off
182:spun-off
62:Industry
691:Reuters
279:Fortune
195:History
148:Website
120:Revenue
90: (
82:Founded
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808:ROI-NJ
562:ROI-NJ
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139:Parent
38:Public
616:CNBC
532:ISBN
505:ISBN
479:ISBN
372:ISBN
321:ISBN
157:.com
92:1965
85:1965
52:NYSE
939:IRN
783:ENR
759:WSJ
219:to
153:www
56:HRI
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