M&A Deal Summary

Herc Rentals Acquires Durante Rentals

On July 1, 2024, Herc Rentals acquired business services company Durante Rentals from Clairvest Group

Acquisition Highlights
  • This is Herc Rentals’ 10th transaction in the Business Services sector.
  • This is Herc Rentals’ 9th transaction in the United States.
  • This is Herc Rentals’ 2nd transaction in New York.

M&A Deal Summary
Date 2024-07-01
Target Durante Rentals
Sector Business Services
Buyer(s) Herc Rentals
Sellers(s) Clairvest Group
Deal Type Add-on Acquisition

Target

Durante Rentals

New Rochelle, New York, United States
Durante Rentals is an independent construction equipment rental provider in the New York Metropolitan area. Durante Rentals primarily serves small to mid-sized contractors through a network of 10 branches across New York, New Jersey, and Connecticut. Durante Rentals was founded in 2009 and is based in New Rochelle, New York.

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Buyer(S) 1

Buyer

Herc Rentals

Bonita Springs, Florida, United States
Category Company
Founded 1965
Sector Business Services
Employees7,600
Revenue 3.3B USD (2023)
DESCRIPTION
Herc Holdings' corporate headquarters in Bonita Springs, Florida.
Herc Holdings' corporate headquarters in Bonita Springs, Florida.

Herc Rentals is an equipment rental supplier. Herc Rentals is a full-line equipment-rental supplier in key markets, including commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture. Herc Rentals was formed in 1965 and is based in Bonita Springs, Florida.

DEAL STATS #
Overall 11 of 11
Sector (Business Services) 10 of 10
Type (Add-on Acquisition) 11 of 11
State (New York) 2 of 2
Country (United States) 9 of 9
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-15 Cloverdale

Oak Park, Michigan, United States

Cloverdale is a full-service construction equipment distributor and rental company, providing mobile elevating work platforms, telehandlers, forklifts, rough terrain, and industrial cranes, boom trucks, portable air compressors, and other related construction equipment. Cloverdale was founded in 1963 and is based in Oak Park, Michigan.

Buy -

Seller(S) 1

SELLER

Clairvest Group

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 4.5B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Clairvest Group is a generalist Canadian private equity firm focused on mid-market businesses with C$10 to C$50 million of EBITDA. While Clairvest does not have any sector preferences, the Firm prefers fragmented sectors with recurring revenue business models and economies of scale. Clairvest will consider both minority and majority investment positions and invests in the range of C$25- C$100 million per transaction. Clairvest was formed in 1987 and is based in Toronto.

DEAL STATS #
Overall 29 of 31
Sector (Business Services) 4 of 4
Type (Add-on Acquisition) 13 of 15
State (New York) 4 of 4
Country (United States) 16 of 17
Year (2024) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-17 Wyoming Downs

Evanston, Wyoming, United States

Wyoming Downs is a racetrack that offers live simulcast races and historic horse racing games. Wyoming Downs is based in Evanston, Wyoming.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-05 FSB Technology

London, United Kingdom

FSB Technology is a Business to Business sports and internet gaming technology supplier based in London, United Kingdom. Using a Software as a Service business model FSB Technology offers full end to-end sports betting and internet gaming solutions, which includes data and pricing feeds, a proprietary sports betting software platform, fully-managed trading services and more. FSB Technology was founded in 2007 and is based in London, United Kingdom.

Sell -
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