Herc’s acquisition of Otay Mesa Sales its largest buy ever

Jenny Lescohier Editor, Rental Briefing

24 July 2024

Herc Holdings Inc. acquired the assets of Otay Mesa Sales from Otay Mesa Sales Inc. for approximately $260 million in July 2024, it was reported by Market Screener. 

Herc Rentals equipment.

Herc hinted at the sale in its earnings call on July 23, calling the deal its largest acquisition to date. The addition of Otay targets the construction and industrial customer segments with four locations serving Phoenix and Yuma, Arizona and San Diego, California.

According to the company’s website, Otay Mesa Sales has been a family-owned business for more than 100 years, claiming to be one of the largest independent equipment companies.

A cash consideration of $264 million will be paid by Herc Holdings Inc. Otay Mesa has 135 employees.

Herc has added 21 new locations so far in 2024, with 10 of those coming in the second quarter (a 48% increase in locations year-to-date). 

Global North America General Mergers & acquisitions Industry News Access Rental Industry trends
STAY CONNECTED

Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

CONNECT WITH THE TEAM
Andy Brown Editor, Editorial, UK - Wadhurst Tel: +44 (0) 1892 786224 E-mail: [email protected]
Neil Gerrard Senior Editor, Editorial, UK - Wadhurst Tel: +44 (0) 7355 092 771 E-mail: [email protected]
Catrin Jones Deputy Editor, Editorial, UK – Wadhurst Tel: +44 (0) 791 2298 133 E-mail: [email protected]
Eleanor Shefford Brand Manager Tel: +44 (0) 1892 786 236 E-mail: [email protected]