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Herc Holdings, based in Bonita Springs, continues to spread its wings.
On Friday, the parent company of Herc Rentals announced the acquisition of Canadian company Dwight Crane Ltd. and its subsidiary LRX LLC in the United States.
The deal gives Herc a greater presence in the entertainment industry.
Herc did not disclose the terms of the sale.
For more than 40 years, Dwight Crane has served Ontario’s film, event and commercial production companies, supplying work crews with everything from trucks and lighting to cranes and aerial work platforms.
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In addition to Canada, the specialized equipment rental company had operations in Los Angeles, often referred to as the Entertainment Capital of the World. The sale to Herc also included these operations in the United States.
“With the acquisition of Dwight Crane, we continue to expand our entertainment rental portfolio,” said Larry Silber, President and CEO of Herc, in a statement.
According to its website, Dwight Crane was founded in 1978. Its head office is located in Ajax, a city in southern Ontario.
“Dwight Cane has built an unrivaled reputation for quality and expertise, while serving one of the largest entertainment markets in North America,†said Silber.
In addition, he said, the company will bring its cutting edge technologies, which Herc plans to introduce into its specialty entertainment rental network.
“Dwight Crane’s long-standing relationship with Ontario entertainment customers and industry-leading LRX-branded lighting technologies add additional strength to our team and reinforce our long-term commitment to the growing entertainment segment, â€said Silber.
Herc has his eyes on other acquisitions.
Less than two weeks ago, the company announced plans to purchase Texas-based CBS Rentals. The closure is expected to take place by the end of this year.
Herc also did not publicly disclose the terms of the deal.
The company performed better than expected amid the coronavirus pandemic, putting it in a strong financial position to continue with acquisitions as part of its growth strategy.
In December, Herc completed the purchase of Houston-based Champion Rentals – its first multi-site acquisition since becoming an independent, publicly-traded company in 2016, following its separation from the Hertz-based car rental business. in Estero, nearby.
Her rents a wide range of heavy and specialized equipment, from earthmoving machines to generators. The company has benefited from a boom in construction and the diversification of its activity.
Since its separation from Hertz, Herc has made four distinct strategic acquisitions. CBS Rentals would mark its fifth.
Two of Herc’s purchases, concluded in April, were of companies with unique locations in the San Francisco Bay Area.
The addition of CBS, a full-service general equipment rental company, will further expand Herc’s presence in Texas, one of the largest equipment rental markets in North America.
Herc Rentals, in business for over 55 years, is already one of the nation’s leading equipment rental providers, with approximately 280 locations across North America. The company reported around $ 1.8 billion in revenue last year.
Herc Holdings has 4,800 employees nationwide, including approximately 400 at local headquarters.
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