Herc Acquires New Hampshire-Based Equipment Rental Business For Undisclosed Sum

Herc Holdings Inc HRI acquires all the assets of New Hampshire-based Reliable Equipment, LLC. Deal terms were not disclosed. The business has more than 50 employees and service coverage from Boston to Portland, ME.
Reliable Equipment is a full-service provider of equipment rentals with a fleet that includes aerial, material handling, earthmoving equipment, specialty climate control, and power generation equipment.
This transaction supports Herc's key strategic initiatives to expand its presence in urban markets across North America.
Herc held cash and cash equivalents were $35.2 million as of September 30, 2021.
"The addition of Reliable Equipment expands our New England presence to eight physical locations, allowing us to serve existing and new customers with a larger fleet and improved responsiveness while also providing greater scale to operate more efficiently across the Northeast U.S.," said CEO Larry Silber.
Price Action: HRI shares closed higher by 1.1% at $184.06 on Monday.