CPE News (9/3/2021) – Herc Holdings Inc. (NYSE: HRI) has acquired Dwight Crane Ltd. and its U.S. affiliate, LRX LLC, from owner Brian Dwight. Financial terms were not disclosed.
Ajax, Ontario based Dwight Crane is a full-service provider of equipment and lighting rentals with more than 40 years of serving Ontario’s film, event and commercial production community. The company’s rental fleet includes aerial lifts and vehicles, lighting and mounts, cranes, and lighting trucks.
Bonita Springs, Florida based Herc Holdings Inc., which operates through its Herc Rentals Inc. subsidiary, is one of the leading equipment rental suppliers with approximately 280 locations in North America. With over 55 years of experience, we are a full-line equipment rental supplier offering a broad portfolio of equipment for rent.
Herc Holdings’ 2020 total revenues were approximately US $1.8 billion.
Carl C. Icahn, through various investment funds, controls approximately 15.2% of Herc Holdings outstanding shares and has three nominees on 11-members Herc board pursuant to a nomination and standstill agreement.
photo credit: Dwight Crane
News Release
Herc Holdings Acquires Toronto-area Entertainment Equipment Rental Business
September 03, 2021 08:30 AM Eastern Daylight Time
BONITA SPRINGS, Fla.–(BUSINESS WIRE)–Herc Holdings Inc. (NYSE: HRI), a leading North American equipment rental supplier operating as Herc Rentals Inc., announced today that it has acquired Dwight Crane Ltd. and its U.S. affiliate, LRX LLC. Dwight Crane is an entertainment equipment rental business based in Ajax, Ontario, Canada that also has operations in Los Angeles. Terms were not disclosed.
Dwight Crane is a full-service provider of equipment and lighting rentals with more than 40 years of serving Ontario’s film, event and commercial production community. The company’s rental fleet includes aerial lifts and vehicles, lighting and mounts, cranes, and lighting trucks.
“With the acquisition of Dwight Crane, we continue to expand our entertainment-related rental portfolio, which also includes the industry-leading brands of Herc Entertainment Services®, Cinelease® and Cinelease Studios,” said Larry Silber, president and chief executive officer. “Like our existing North American entertainment equipment rental operations, Dwight Crane has developed an unmatched reputation for quality and expertise while serving one of the largest entertainment markets in North America. In addition, Dwight Crane brings industry-leading technologies that we look forward to introducing across our specialty entertainment rental network.
“Through our entertainment-specific brands, our ProSolutions® specialty rental equipment and our full line of equipment and services offerings, Herc Rentals remains well positioned as a preeminent partner to North America’s film, TV, and live event production enterprises. Dwight Crane’s long-standing ties to Ontario’s entertainment clientele and its industry-leading LRX brand lighting technologies bring additional strength to our team and reinforce our long-term commitment to the growing entertainment segment.”
About Herc Holdings Inc.
Herc Holdings Inc., which operates through its Herc Rentals Inc. subsidiary, is one of the leading equipment rental suppliers with approximately 280 locations in North America. With over 55 years of experience, we are a full-line equipment rental supplier offering a broad portfolio of equipment for rent. Our classic fleet includes aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction and lighting. Our equipment rental business is supported by ProSolutions®, our industry-specific solutions-based services, which includes power generation, climate control, remediation and restoration, and studio and production equipment, and our ProContractor professional grade tools. Our product offerings and services are aimed at helping customers work more efficiently, effectively and safely. The Company has approximately 4,800 employees who equip our customers and communities to build a brighter future. Herc Holdings’ 2020 total revenues were approximately $1.8 billion. For more information on Herc Holdings and its products and services, visit: www.HercRentals.com.
Contacts
Paul Dickard
Vice President, Communications
paul.dickard@hercrentals.com
239-301-1214
Elizabeth Higashi, CFA
Vice President, Investor Relations & Sustainability
elizabeth.higashi@hercrentals.com
239-301-1024