According to recent SEC filings, the spinoff will occur by the end of the second quarter. Company officials today confirmed a mid-year target is still on track.

“We plan a smooth transition to be sure our customers and partners know they are working with the same organization they have entrusted with their equipment rental needs for five decades,” said Larry H. Silber, HERC president and chief executive officer. “At the same time, we are excited by the opportunity to introduce Herc Rentals as a business that is rapidly evolving, with much more to offer customers, employees and prospective shareholders as we look ahead.”

It won’t be the same old, same old, according to Silber. “We are driving significant changes across the HERC organization to improve customer service, diversify our product mix, upgrade existing product lines, enter new markets, expand our footprint and make it easier to do business with us,” he said. “We are truly becoming a new business, and we look forward to demonstrating that, every day, we also are becoming a better business.”

The transition to Herc Rentals “reflects our intention to establish a unique identity as an independent company and to share the attributes of our forward-looking business and brand,” said Silber. “Ultimately, we are a service business, helping our customers get the equipment, services and expertise they need to accomplish their tough jobs faster and more efficiently while enabling them to conserve capital for other growth investments.”

A wholly owned subsidiary of Hertz Global Holdings since 1965, Florida-based Hertz Equipment Rental Corp. operates one of the world’s largest equipment rental businesses. Products include aerial lifts, air compressors and tools, earthmoving equipment, power generators, forklifts and materials-handling equipment, pumps, and trucks and trailers.