Herc Rentals Acquires Rental Works of Maryland: Another Step Towards Metropolitan Expansion and Growth

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. This acquisition marks Herc Rentals’ continued growth and expansion in key metropolitan markets.

Rental Works of Maryland was founded in 2007 and operates four branches. The managing partner, 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 focus on enhancing the customer experience, managing fleet efficiency and expenses, and expanding their network aligns perfectly with our mission.”

Herc Rentals completed four acquisitions in the first quarter of the year, opening 11 new locations and four greenfield locations. The company’s total fleet was valued at approximately $6.4 billion as of March 31, with an average fleet age of 47 months. With over 400 locations across North America, Herc Rentals is ranked third on the RER 100 list and reported total revenues of approximately $3.3 billion in 2023.

Larry Silber, president and CEO of Herc Rentals, stated that the company is making progress towards its key priorities for 2024. “This acquisition is a crucial step towards achieving our goals,” said Silber. “We are committed to providing our customers with exceptional service and value while continuing to grow our business through strategic partnerships like this one.”

Catalyst Strategic Advisors served as the exclusive transaction advisor to Rental Works of Maryland throughout the acquisition process.