Divestitures are never easy. Standing up a separate company without disrupting ongoing operations, in either the new entity or the parent, is a major challenge in any circumstance. It's even more complex to accomplish when the newly formed company will have more than $1 billion in revenue and nearly 5,000 employees. That was exactly the challenge the management team undertook when Herc Rentals spun off from The Hertz Corporation in 2016.
With 270 locations across the United States and Canada, Herc Rentals is one of the leading equipment-rental businesses in North America. Its divestiture from the Hertz car rental company was announced in 2014. A new senior management build began in 2015, with planning for the new treasury team starting in March 2016, for a 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.
