Herc Holdings Inc. has sold all of its interest in Hertz Equipment Rental Company Limited to Guangxi LiuGong Machinery Co., Ltd. With this deal, Herc Holdings will concentrate its efforts primarily in the North American market.
In North America and Europe, renting construction equipment dominates the market, and it is anticipated that China will soon follow suit. In China, rental accounts for more than 90% of the aerial work platform market.
“We are pleased that the business will transition to LiuGong, a leader in the construction equipment and material handling industries in China,” said Larry Silber, President and CEO of Herc Holdings Inc. “We believe that LiuGong will offer a significant growth platform for the Hertz China team.”
“We are pleased to acquire a business led by an experienced team trained in the business methodologies of one of the world’s leading rental companies,” said Kevin Thieneman, Guangxi LiuGong Machinery Vice President. “The Hertz China business will enable LiuGong and our dealers to accelerate the development of rental solutions both in China and globally.”
