Herc acquires US lifting specialist
16 November 2021
Herc Rentals has added to a string of recent acquisitions with the purchase of Chicago-area SkyKing Lift Rentals, for an undisclosed figure.
SkyKing Lift Rentals is a single-location rental business specialising in mobile elevating work platforms including scissor and boom lifts.
The company has grown over the past five years and, according to its website, now operates “one of the largest independent rental fleets in the Midwest” comprising leading aerial lift brands of aerial lifts with an average age of less than five years.
The acquisition expands Herc’s Chicago-area presence to six physical locations.
It comes at the same time as Herc’s completion of the acquisition of Canadian, Toronto-based, Rapid Equipment Rental Limited, a full-service general equipment rental company with seven locations and 110 staff, serving construction and industrial customers in the Greater Toronto Area.
Herc president and CEO Larry Silber said he was pleased to welcome both companies into the Herc Rentals stable.
“With both teams now on board, we have significantly improved our coverage in the dynamic Toronto and Chicago equipment rental market as we continue to serve a diverse mix of construction, industrial and government customers.”
Earlier this month, Herc acquired New Hampshire (US) based company Reliable Equipment and in September acquired Ontario-based crane specialist Dwight Crane in Canada.
In October the company reported a 20.5% increase in revenues for the three months to 30 September.
Commenting on the result, Silber confirmed that expansion of its location base in urban areas was a key part of the company’s forward strategy.