Herc Holdings To Acquire Texas-based CBS Rentals

Herc Holdings Inc. (HRI), a North American equipment rental supplier operating as Herc Rentals Inc., on Tuesday said it agreed to acquire substantially all the assets of Texas-based CBS Rentals (CBS). Terms of the transaction, which is expected to close prior to the end of 2021 have not been disclosed.

The acquisition is expected to expand Herc Rentals' presence in Texas - one of the largest equipment rental markets in North America - to 38 physical locations, which collectively provide general and specialty equipment rental solutions and related services.

CBS is a full-service general equipment rental company comprising approximately 190 employees and 12 locations serving construction and industrial customers throughout Texas, as well as locations in Carlsbad, NM, and Kingsport, TN.

Herc expects the acquisition to add to its earnings in the first year.

HRI closed Monday's trade at $129.83, down $0.89 or 0.68 percent from previous close.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT