Divestitures are never easy. Standing up a separate companywithout disrupting ongoing operations, in either the new entity orthe parent, is a major challenge in any circumstance. It's evenmore complex to accomplish when the newly formed company will havemore than $1 billion in revenue and nearly 5,000 employees. Thatwas exactly the challenge the management team undertook when HercRentals spun off from The Hertz Corporation in 2016.
With 270 locations across the United States and Canada, HercRentals is one of the leading equipment-rental businesses in NorthAmerica. Its divestiture from the Hertz car rental company wasannounced in 2014. A new senior management build began in 2015,with planning for the new treasury team starting in March 2016, fora separation that July.
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Meg Waters
Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.
