User:Downlit/Herc Rentals
| Company type | Public |
|---|---|
| NYSE: HRI | |
| Industry | Equipment rental |
| Predecessor | The Hertz Corporation |
| Founded | 1965 |
| Headquarters | Bonita Springs, Florida |
Key people | Lawrence H. Silber (CEO and president) |
| Revenue | $3.2 billion (2023) |
Number of employees | 7,200 (2023) |
| Parent | Herc Holdings |
| Website | www |
| Footnotes / references [1][2] | |
Herc Rentals is an equipment rental company, owned by Herc Holdings. It was formerly a subsidiary of The Hertz Corporation before being spun-off as a separate company in 2016. The company provides rentals of heavy equipment,[3] tools, power generators and pumps,[4] as well as sales of used equipment.[5]
It primarily serves companies in the construction, manufacturing, energy, civil infrastructure, agriculture, and entertainment industries.[6][7][8]
History
The company was founded in 1965 as a subsidiary of The Hertz Corporation.[9] It was originally named Hertz Equipment Rental Corporation (HERC). It was the second largest equipment rental company as of 1994.[10] In 2013, HERC's headquarters were moved from Park Ridge, New Jersey to Estero, Florida.[11][12]
In 2014, it was announced that Hertz Global planned to spin-off HERC as a separate publicly traded company.[13] Lawrence Silber became head of the company in 2015 and led it during the transition,[11] becoming CEO and president after the spinoff.[14] The company was renamed Herc Rentals, based on the acronym for its previous name.[15]
It is currently one of the largest equipment rental companies in the world and operates in the United States and Canada.[3][16]
References
- ^ "Herc Holdings". Fortune.
- ^ "Herc Holdings Reports Strong Full Year 2023". hercrentals.com.
- ^ a b McManus, John; Winroth, Mats; Angelis, Jannis (2019-10-12). Service Operations Management: A Strategic Perspective. Bloomsbury Publishing. pp. 242–244. ISBN 978-1-137-60923-6.
- ^ "Hertz spinning off its equipment rental business - CBS News". www.cbsnews.com. 2014-03-18. Retrieved 2024-04-11.
- ^ Hoover's Handbook of American Business 2005. Hoover's, Incorporated. December 2004. p. 2. ISBN 978-1-57311-101-0.
- ^ Bomey, Nathan. "Hertz split official: Equipment, car rental parting". USA TODAY. Retrieved 2024-04-11.
- ^ "Hertz announces equipment hire spin-off". www.ft.com. Retrieved 2024-04-11.
- ^ "The other Hertz". Business Observer. 2017-01-06. Retrieved 2024-04-11.
- ^ Pasiuk, Laurie; Vault (Firm) (2006). Vault Guide to the Top Transportation Industry Employers. Vault Inc. p. 70. ISBN 978-1-58131-385-7.
- ^ Encyclopedia of American Industries. Gale Research. 1994. p. 1145. ISBN 978-0-7876-9062-5.
- ^ a b Pizzutillo, Rich (2018-03-20). "New name, new vision, new products are getting Herc Rentals back on track". ROI-NJ. Retrieved 2024-04-11.
- ^ Layden, Laura. "Herc finds its own way as a stand-alone company". Naples Daily News. Retrieved 2024-04-11.
- ^ "Hertz to spin off gear-rental arm". www.arkansasonline.com. 2014-03-19. Retrieved 2024-04-11.
- ^ Hufford, Austen. "Hertz Details Equipment Company Spinoff". WSJ. Retrieved 2024-04-11.
- ^ "Larry Silber, CEO of Herc Rentals, Sees New Opportunities". www.enr.com. Retrieved 2024-04-11.
- ^ "Hertz to spin-off rental business in $2.5bn deal". Financier Worldwide. Retrieved 2024-04-11.