Herc Rentals Acquires Rental Works of Maryland to Expand its Presence in Key Markets and Reach Its 2024 Priorities
Herc Rentals, a leading equipment rental company in North America, has acquired Rental Works of Maryland, an independent equipment rental company serving the Maryland, Washington D.C., and Northern Virginia markets in the US. The acquisition of Rental Works of Maryland will help Herc Rentals expand its presence in these key markets.
Herc Rentals has reported adding 15 locations since the beginning of the year, bringing its total fleet to over 400 locations across North America. The company’s focus on enhancing the customer experience, managing fleet efficiency and expenses, and expanding its network through acquisitions and greenfield locations is paying off as it ranks third on the RER 100 list with total revenues of approximately $3.3 billion in 2023.
The managing partner of Rental Works of Maryland, David Graham, expressed excitement about the acquisition and highlighted the shared values between the two companies. “We are thrilled to join forces with Herc Rentals,” said Graham. “Their commitment to excellence and customer service aligns perfectly with our own values.”
Rental Works of Maryland was founded in 2007 and operates four branches. The acquisition by Herc Rentals will enable it to leverage its resources and expertise to grow its business further in these key markets. Larry Silber, president and CEO of Herc Rentals stated that this acquisition is a step towards achieving their key priorities for 2024. Catalyst Strategic Advisors served as the exclusive transaction advisor to Rental Works of Maryland during this transaction process.
