20.08.2021

Herc acquires CBS in Texas

Herc Rentals (previously Hertz Equipment Rentals) is to acquire the assets of Texas based CBS Rentals from its owner and chairman Jason Herin. The terms of the deal have not yet been disclosed.

CBS is based in Corpus Christi and operates from 12 locations, 10 of them in Texas, plus Carlsbad in New Mexico, and Kingsport in Tennessee, with a total of 190 employee. The company offers a wide range of tools and construction equipment, along with an extensive line of aerial lifts and telehandlers. The addition of CBS expands Herc Rentals’ presence in Texas to 38 locations.

Chief executive Larry Silber said: “I look forward to welcoming CBS Rentals to Team Herc. Like Herc Rentals, CBS has more than 56 years of history, substantial equipment rental experience and a strong reputation for exceptional customer service, top-quality equipment and operational excellence.”

“Our combined teams and resources position Herc Rentals to be a preeminent equipment rental partner across Texas serving a diverse mix of construction, industrial and government customers. With many of its locations in major metropolitan markets, the addition of CBS supports our long-term strategy to achieve greater density and scale in select urban markets across North America to better serve both our local and national customers.”

“We expect the acquisition to be accretive to earnings in the first year. We remain well positioned to pursue growth through a variety of initiatives, including investment in key fleet categories, greenfield branches and acquired operations, while maintaining our commitment to a sound financial footing.”