Acquiring Company
Herc Holdings
Acquired Company
CBS Rentals
Description
Herc Holdings Inc. (NYSE: HRI), a leading North American equipment rental supplier operating as Herc Rentals Inc., announced today that it has entered a purchase agreement to acquire substantially all the assets of Texas-based CBS Rentals (CBS). The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close prior to the end of 2021. Terms were not disclosed.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed