User:Downlit/Herc Rentals: Difference between revisions
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{{Infobox company |
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| name = Herc Rentals |
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| type = [[Public company|Public]] |
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| traded_as = {{NYSE|HRI}} |
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| industry = [[Equipment rental]] |
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| predecessor = [[The Hertz Corporation]] |
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| founded = {{Start date and age|1965}} |
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| hq_location = [[Bonita Springs, Florida]] |
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| key_people = Lawrence H. Silber (CEO and president) |
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| revenue = $3.2 billion |
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| revenue_year = 2023 |
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| num_employees = 7,200 |
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| num_employees_year = 2023 |
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| parent = Herc Holdings |
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| website = {{URL|www.hercrentals.com}} |
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| footnotes = <ref name="Fortune">{{cite web|title=Herc Holdings|url=https://fortune.com/company/herc-holdings/|website=Fortune}}</ref><ref name="HercReport">{{cite web|title=Herc Holdings Reports Strong Full Year 2023|url=https://ir.hercrentals.com/news/news-details/2024/Herc-Holdings-Reports-Strong-Full-Year-2023-Results-and-Announces-2024-Full-Year-Guidance/default.aspx|website=hercrentals.com}}</ref> |
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}} |
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'''Herc Rentals''' is an equipment rental company, owned by Herc Holdings. It was formerly a subsidiary of [[The Hertz Corporation]] before being [[Corporate spin-off|spun-off]] as a separate company in 2016. The company provides rentals of [[heavy equipment]],<ref name=":1">{{Cite book |last=McManus |first=John |url=https://books.google.com/books?id=_RxHEAAAQBAJ&newbks=1&newbks_redir=0&lpg=PA242&dq=herc%20rentals%20inc&pg=PA242#v=onepage&q=herc%20rentals%20inc&f=false |title=Service Operations Management: A Strategic Perspective |last2=Winroth |first2=Mats |last3=Angelis |first3=Jannis |date=2019-10-12 |publisher=Bloomsbury Publishing |isbn=978-1-137-60923-6 |pages=242-244 |language=en}}</ref> tools, power generators and pumps,<ref>{{Cite web |date=2014-03-18 |title=Hertz spinning off its equipment rental business - CBS News |url=https://www.cbsnews.com/news/hertz-spinning-off-its-equipment-rental-business/ |access-date=2024-04-11 |website=www.cbsnews.com |language=en-US}}</ref> as well as sales of used equipment.<ref>{{Cite book |url=https://books.google.com/books?id=qnwGr6PZ3bIC&q=herc+rentals+inc&dq=herc+rentals+inc&hl=en&newbks=1&newbks_redir=0&sa=X&ved=2ahUKEwjT-fnv2uCEAxV7EFkFHZCVDfQ4ChDoAXoECAsQAg |title=Hoover's Handbook of American Business 2005 |date=December 2004 |publisher=Hoover's, Incorporated |isbn=978-1-57311-101-0 |pages=2 |language=en}}</ref> |
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It primarily serves companies in the construction, manufacturing, energy, civil infrastructure, agriculture, and entertainment industries.<ref name=":0">{{Cite web |last=Bomey |first=Nathan |title=Hertz split official: Equipment, car rental parting |url=https://www.usatoday.com/story/money/cars/2016/06/06/hertz-rental-car-company-split/85479720/ |access-date=2024-04-11 |website=USA TODAY |language=en-US}}</ref><ref>{{Cite web |title=Hertz announces equipment hire spin-off |url=https://www.ft.com/content/09d15dd8-ae97-11e3-8e41-00144feab7de |access-date=2024-04-11 |website=www.ft.com}}</ref><ref name=":2">{{Cite web |date=2017-01-06 |title=The other Hertz |url=https://www.businessobserverfl.com/news/2017/jan/06/other-hertz/ |access-date=2024-04-11 |website=Business Observer |language=en}}</ref> |
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==History== |
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The company was founded in 1965 as a subsidiary of [[The Hertz Corporation]].<ref>{{Cite book |last=Pasiuk |first=Laurie |url=https://books.google.com/books?id=lTN0d-bCZ6oC&newbks=1&newbks_redir=0&lpg=PA70&dq=herc%20rentals&pg=PA70#v=onepage&q=herc%20rentals&f=false |title=Vault Guide to the Top Transportation Industry Employers |last2=Vault (Firm) |date=2006 |publisher=Vault Inc. |isbn=978-1-58131-385-7 |pages=70 |language=en}}</ref> It was originally named Hertz Equipment Rental Corporation (HERC). It was the second largest equipment rental company as of 1994.<ref>{{Cite book |url=https://books.google.com/books?newbks=1&newbks_redir=0&id=hM8dAQAAMAAJ&dq=herc+rentals&focus=searchwithinvolume&q=herc |title=Encyclopedia of American Industries |date=1994 |publisher=Gale Research |isbn=978-0-7876-9062-5 |pages=1145 |language=en}}</ref> In 2013, HERC's headquarters were moved from [[Park Ridge, New Jersey]] to [[Estero, Florida]].<ref name=":3">{{Cite web |last=Pizzutillo |first=Rich |date=2018-03-20 |title=New name, new vision, new products are getting Herc Rentals back on track |url=https://www.roi-nj.com/2018/03/20/industry/new-name-new-vision-new-products-are-getting-herc-rentals-back-on-track/ |access-date=2024-04-11 |website=ROI-NJ |language=en-US}}</ref><ref name=":4">{{Cite web |last=Layden |first=Laura |title=Herc finds its own way as a stand-alone company |url=https://www.naplesnews.com/story/money/business/local/2017/07/07/herc-finds-its-own-way-stand-alone-company/436874001/ |access-date=2024-04-11 |website=Naples Daily News |language=en-US}}</ref> |
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In 2014, it was announced that Hertz Global planned to [[Corporate spin-off|spin-off]] HERC as a separate publicly traded company.<ref>{{Cite web |date=2014-03-19 |title=Hertz to spin off gear-rental arm|url=https://www.arkansasonline.com/news/2014/mar/19/hertz-to-spin-off-gear-rental-arm-20140319/ |access-date=2024-04-11 |website=www.arkansasonline.com |language=en}}</ref> Lawrence Silber became head of the company in 2015 and led it during the transition,<ref name=":3" /> becoming CEO and president after the spinoff.<ref>{{Cite news |last=Hufford |first=Austen |title=Hertz Details Equipment Company Spinoff |url=https://www.wsj.com/articles/hertz-details-equipment-company-spinoff-1465224040 |access-date=2024-04-11 |work=WSJ |language=en-US}}</ref> The company was renamed Herc Rentals, based on the acronym for its previous name.<ref>{{Cite web |title=Larry Silber, CEO of Herc Rentals, Sees New Opportunities|url=https://www.enr.com/articles/39898-larry-silber-ceo-of-herc-rentals-sees-new-opportunities |access-date=2024-04-11 |website=www.enr.com |language=en}}</ref> |
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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.<ref name=":1" /><ref>{{Cite web |title=Hertz to spin-off rental business in $2.5bn deal |url=https://www.financierworldwide.com/hertz-to-spin-off-rental-business-in-25bn-deal |access-date=2024-04-11 |website=Financier Worldwide |language=en-US}}</ref> |
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== References == |
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{{Reflist}} |
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== External links == |
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