Twenty-two of this year’s RER 100 run RentalMan. Together they account for more than two-thirds of the list’s rental revenue, over half its branches, and nearly nine out of every ten net new branches opened by the companies that held their place on the list over the last five years. Here is the full breakdown of how the RER 100’s equipment rental software choices line up with performance.
Key takeaways
- RentalMan customers are 22 of the 2026 RER 100, but they generated 68.8% of its combined rental revenue: $32.4 billion of $47.1 billion.
- Companies running RentalMan have accounted for at least 61% of RER 100 rental revenue in every one of the last 16 years of lists, peaking at 70.4% in 2022.
- RentalMan customers generated $7.2 million of rental revenue per location in 2025 versus $4.0 million for the rest of the list, an 82% premium that widens to 116% when the three largest companies are excluded.
- Over 2020–2025, the median RentalMan company on the RER 100 grew rental revenue 93.4%, versus 39.7% for the rest of the list.
- RentalMan customers opened 1,627 of the 1,809 net new branches added by companies present on both the 2020 and 2025 lists, or 89.9%, from 17 of the cohort’s 66 companies.
- All 12 RentalMan companies present on both the 2015 and 2025 RER 100 grew rental revenue over the decade.
What’s in this analysis
- Key takeaways
- How we did this
- Share of RER 100 revenue
- The consolidation backdrop
- Acquisition as a growth strategy
- Revenue per location
- Revenue growth
- Branch network growth
- Adoption by company size
- Staying power on the list
- The Caterpillar dealer picture
- Why the biggest operators run RentalMan
- How North America compares to the world
- Frequently asked questions
How we did this
The list. The RER 100 is published annually by Rental Equipment Register (RER), ranking North America’s largest equipment rental companies by rental revenue. All revenue figures here are North American rental revenue in US dollars, as RER publishes them. The 2026 list carries 109 companies totaling $47.1 billion in rental revenue across 8,212 locations.
Our dataset. We maintain a normalized company-level record of every RER 100 list from 2010 through 2025 (1,609 company-years), and we match each company to a stable identifier so we can track it through name changes, rebrands, and acquisitions. Location counts are complete for every company in every year, so no branch statistic below carries a coverage caveat.
How growth is measured. We measure growth with a same-company cohort: only companies that appear on the list in both endpoint years, grouped by the software they run in the later year. This keeps the analysis focused on company performance instead of changes in list membership. We state cohort sizes wherever a growth number appears.
Medians and totals, both. Three companies (United Rentals, Sunbelt Rentals and Herc Rentals) account for 58.9% of the 2026 list’s revenue. While all three run RentalMan, any revenue-weighted total is heavily influenced by them, so we report medians alongside totals throughout, and show what happens when those three are removed entirely.
Correlation, not causation. This is an analysis of how companies running RentalMan performed relative to the rest of the RER 100. It is not a controlled study, and we make no claim that software choice caused these outcomes. Where we discuss why we think the pattern exists, we say so plainly and separate it from the data.
Revenue numbers vs. list years clarification. RER publishes each edition the year after the revenue it reports, so the 2026 RER 100 ranks companies by their 2025 rental revenue. Throughout this article, the list is named by its edition year, while every year attached to a revenue figure, growth window, or table refers to the calendar year the revenue was earned.
What share of RER 100 revenue runs on RentalMan?
RentalMan customers make up 20.2% of the companies on the 2026 RER 100 but generated 68.8% of its rental revenue ($32.4 billion of $47.1 billion) while operating 54.9% of its locations. The escalation across those three measures is the story in miniature: one in five companies, more than half the branches, better than two-thirds of the revenue.
| Measure | Companies running RentalMan | The rest of the list | Full 2026 RER 100 |
|---|---|---|---|
| Companies | 22 (20.2%) | 87 (79.8%) | 109 |
| Rental revenue | $32.4B (68.8%) | $14.7B (31.2%) | $47.1B |
| Locations | 4,505 (54.9%) | 3,707 (45.1%) | 8,212 |
| Median company revenue | $209.0M | $54.0M | $70.0M |
| Median company locations | 29 | 13 | 14 |
The medians matter more than the totals here, because they can’t be explained away by the industry’s giants. The median company running RentalMan books $209.0 million across 29 locations, versus $54.0 million across 13 locations for the median company that doesn’t: 3.9 times the revenue and 2.2 times the branch network. Half the companies running RentalMan are larger than $209 million; half the rest of the list is smaller than $54 million.
Near the top of the list the concentration is heavier still: RentalMan runs 3 of the top 5 companies by 2025 rental revenue, 5 of the top 10, and 11 of the top 25. Counting RentalResult alongside RentalMan, Wynne platforms run 23 of the 109 companies on the list, representing 69.6% of its rental revenue.
Sixteen years of the same pattern
Companies running RentalMan have accounted for at least 61% of RER 100 rental revenue every single year since 2010: a floor of 61.1% in 2010 and a peak of 70.4% in 2022. That stability, across a period in which the list’s own composition churned constantly, is the most durable finding in this dataset.
| Year | Share | Year | Share |
|---|---|---|---|
| 2010 | 61.1% | 2018 | 64.1% |
| 2011 | 62.1% | 2019 | 67.3% |
| 2012 | 62.8% | 2020 | 68.0% |
| 2013 | 63.3% | 2021 | 69.3% |
| 2014 | 63.8% | 2022 | 70.4% |
| 2015 | 65.0% | 2023 | 67.7% |
| 2016 | 68.7% | 2024 | 68.1% |
| 2017 | 66.7% | 2025 | 68.8% |
In short: a consistently high share of a consolidating market, held across sixteen straight lists.
A consolidating industry: where the revenue went
The top five companies on the RER 100 collected 66.8% of the list’s rental revenue in 2025, up from 51.9% in 2010; the top ten now collect 76.9%, up from 63.7%. North American equipment rental has spent fifteen years concentrating, and the 2026 list is the most concentrated yet.
The other side of that trend is the squeeze on the middle. Companies below $250 million in rental revenue were 94% of the 2010 RER 100 and held 45.3% of its revenue; in 2025 they are 80.7% of the list but hold just 13.9%. They have not shrunk. Their combined revenue grew from $4.6 billion to $6.5 billion over the period. They have been dwarfed. The median company in that group nearly doubled in size, from $26.6 million to $47.2 million.
The three companies driving the consolidation (United Rentals, Sunbelt Rentals and Herc Rentals, together 58.9% of 2026 list revenue) all run RentalMan. So does much of what they have absorbed. Ahern Rentals, a RentalMan operator with $724.6 million in rental revenue on its final list appearance, was acquired by United Rentals; National Pump & Compressor also went to United. Herc’s acquisition of H&E Equipment Services, a company that ran Wynne’s RentalResult platform, closed in June 2025 and removed the second-largest name to leave the list in years. Herc’s own rental revenue grew 18.2% in 2025, from $3.19 billion to $3.77 billion, with the full effect still to land on next year’s RER 100.
Consolidation runs both directions. RentalMan sites have also been acquired by operators that don’t run RentalMan. But the dominant pattern in this dataset is that the companies doing the acquiring at the top of the market are running RentalMan while they do it.
In short: North American rental keeps concentrating, and the companies consolidating it at the top run RentalMan.
Acquisition: a growth strategy made cheaper by shared software
Additional branches, fleet, staff and reduced competition make acquisition the fastest route to scale in this market, and the data above shows who is using it. The three companies driving consolidation at the top of the list all run RentalMan, and so did much of what they have absorbed. What the data can’t show is why some acquisitions go more smoothly than others. Part of the answer is how many rental companies already run the same system.
RentalMan is one of the most widely used platforms in the industry — around 120 rental companies and tens of thousands of employees using it daily, from the three largest rental companies in North America down to single-branch operators. That footprint changes the arithmetic on both sides of a deal. For an acquirer, a target already running RentalMan means employees who already know the system, processes that already line up, and a data migration between two instances of the same platform rather than a conversion between two different ones. Onboarding, training, process integration and data migration are four costs that make or break an acquisition’s first year, and each one gets shorter when both sides start from the same place.
The logic runs in reverse too. For an operator positioning itself to be acquired, the most likely buyers at the top of this list are RentalMan companies. Being on their platform takes a line off the risk a buyer has to price in.
Let’s look at a real-life example. Texas First Rentals doubled its rental revenue and grew from 20 locations to 40 through its 2022 acquisition of Rental One, with both companies running RentalMan. Priscilla Fuentes, Director of Rental Technology, put the benefit on the hardest part of any deal — the people: “I can say that both sides having RentalMan was a huge piece in minimizing some of the challenges. People’s familiarity with RentalMan really helped. While their title or job might change a little, they knew that there would be some familiarity with what they were doing before.” Read the full Texas First case study →
In short: acquisition is how this market grows, and a shared platform shortens the onboarding, training, process and data work on both sides of a deal.
Revenue per location: RentalMan customers versus the field
Companies running RentalMan generated $7.2 million of rental revenue per location in 2025, versus $4.0 million for the rest of the RER 100, an 82% premium. On a per-company basis, the median RentalMan branch network produced $7.8 million per location against $5.4 million for the rest, a 45% premium.
The obvious objection is that this is just an artifact of the industry’s giants. It isn’t, and the correction runs the other way. Excluding United Rentals, Sunbelt Rentals and Herc Rentals entirely, the remaining RentalMan customers generated $8.5 million per location against $4.0 million for the rest of the list: a 116% premium.
It has also been widening for a decade. In 2015 the median RentalMan company earned $4.7 million per location against $4.4 million for the rest of the list, a gap of $0.3 million, a ratio of 1.07. By 2025 the gap was $2.4 million, a ratio of 1.45, having peaked at 1.59 in 2024.
| Year | RentalMan | Rest of list | Gap | Ratio |
|---|---|---|---|---|
| 2015 | $4.7M | $4.4M | $0.3M | 1.07× |
| 2017 | $5.5M | $3.8M | $1.6M | 1.43× |
| 2019 | $6.8M | $5.1M | $1.7M | 1.32× |
| 2021 | $6.0M | $4.8M | $1.1M | 1.24× |
| 2023 | $7.1M | $4.9M | $2.2M | 1.45× |
| 2024 | $7.7M | $4.8M | $2.8M | 1.59× |
| 2025 | $7.8M | $5.4M | $2.4M | 1.45× |
In short: companies running RentalMan earn more rental revenue per location than the rest of the list, and the gap has widened over a decade.
How fast are RentalMan customers growing?
Over the five years from 2020 to 2025, the median company running RentalMan grew rental revenue 93.4%, versus 39.7% for the rest of the list: median compound annual growth of 14.1% against 6.9%. Sixteen of the 17 RentalMan companies in that cohort grew. Across the full 66-company cohort, RentalMan customers grew revenue 92.4% in aggregate against 56.7%.
Take the three largest companies out and the median advantage holds: the median RentalMan company outside the big three grew 72.6% over five years (compound annual growth of 11.5%) against 39.7% and 6.9% for the rest of the list. Thirteen of those 14 companies grew.
Over ten years the pattern is stronger and cleaner. All 12 companies running RentalMan that appear on both the 2015 and 2025 RER 100 grew rental revenue (every one of them) against 31 of 39 for the rest of the cohort. In aggregate the RentalMan group grew 186.0% (11.1% compound annual) against 102.9% (7.3%).
| Cohort | Median growth, RentalMan | Median growth, rest of list | Share of RentalMan companies that grew |
|---|---|---|---|
| 1 year (2024→2025, n=94) | +6.9% | +5.0% | 19 of 22 (86.4%) |
| 5 years (2020→2025, n=66) | +93.4% | +39.7% | 16 of 17 (94.1%) |
| 5 years, excl. top 3 (n=63) | +72.6% | +39.7% | 13 of 14 (92.9%) |
| 10 years (2015→2025, n=51) | +108.3% | +74.6% | 12 of 12 (100%) |
Breaking it down to just the last year, 86.4% of RentalMan companies on both the 2024 and 2025 lists grew rental revenue, against 72.2% of the rest, with a median gain of 6.9% against 5.0%.
The fastest growers
Six of the ten fastest-growing companies on the RER 100 between 2020 and 2025 run RentalMan (among companies with at least $20 million of 2020 rental revenue, ranked by compound annual growth). These six companies achieved compound annual growth ranging from 16.8 to 29.6%.
At the other end, of the eight companies whose rental revenue shrank over those five years, seven run something other than RentalMan.
In short: over five and ten years, RentalMan customers on the list grew rental revenue faster at the median than the rest; the single most recent year is closer.
Branch networks: who is actually expanding?
Companies running RentalMan opened 1,627 of the 1,809 net new locations added between 2020 and 2025 by companies present on both lists, or 89.9% of all net branch growth, from 17 of the cohort’s 66 companies. The median RentalMan company grew its branch network 48.6% over those five years, against 14.3% for the rest of the cohort.
As with revenue per location, the finding survives removing the giants: excluding the three largest companies, the median RentalMan operator still grew its footprint 39.8%, against 14.3% for the rest of the list.
Seven of the ten largest branch-network expansions on the 2020–2025 list belong to RentalMan customers: Sunbelt Rentals added 661 locations, United Rentals 578, and Herc Rentals 332. The other four RentalMan expanders in the top ten added a combined 105 branch locations. That’s 1,676 total branches in just those seven companies over 5 years.
Adding branches without diluting them
Opening locations is easy to do badly: the fast way to grow a branch count is to accept lower revenue at each one. That is not what happened here. Among companies that grew their location count by 20% or more between 2020 and 2025, RentalMan customers raised median revenue per location by 19.6% (from $5.7 million to $7.0 million) against 14.6% for the rest, and 75% of them held or improved revenue per location while expanding, versus 60% of the others.
In short: RentalMan customers opened the large majority of net new branches since 2020 while holding revenue per location steady in real terms.
Adoption rises with company size
RentalMan’s presence on the RER 100 climbs steadily with company size, from 6.7% of companies under $50 million in rental revenue to 50% of those above $1 billion. The gradient is one of the cleanest patterns in the data, and because it counts companies rather than dollars, no individual giant can distort it.
| 2025 rental revenue | Companies on the list | Running RentalMan | Share of tier |
|---|---|---|---|
| Under $50M | 45 | 3 | 6.7% |
| $50M – $100M | 17 | 3 | 17.6% |
| $100M – $250M | 26 | 7 | 26.9% |
| $250M – $1B | 13 | 5 | 38.5% |
| $1B and above | 8 | 4 | 50.0% |
Read from the top down, the same pattern says: RentalMan runs half of the billion-dollar tier and accounts for 82.7% of that tier’s rental revenue. Sixteen of its 22 customers on the list are above $100 million. RentalMan is enterprise-grade equipment rental software, and the list reflects exactly that: it is most common precisely where operational complexity is highest.
In short: adoption climbs with company size, from under 7% of the smallest operators to half the billion-dollar tier.
Staying power: who is still on the list?
Companies running RentalMan fall off the RER 100 at 5.6% per company-year, against 8.5% for the rest of the list: 19 exits from 338 RentalMan company-years across every consecutive pair of lists from 2010 to 2025, versus 99 from 1,162. Measured over a single five-year window, 73.9% of the RentalMan companies on the 2020 list were still there in 2025, against 63.6% of the rest.
They also stay longer. The median RentalMan company on this year’s list has appeared on 12 of the last 16 RER 100 lists; the median for the rest of the list is 9. Thirty-seven companies have appeared on all sixteen lists since 2010, and 10 of those run RentalMan: 27% of the perennials from 20.2% of the list.
In short: RentalMan customers leave the list less often and stay on it longer than the rest, though the gap rests on a handful of companies.
The Caterpillar dealer picture
Nineteen of the companies on the 2026 RER 100 are Caterpillar dealers, with $3.4 billion in combined rental revenue, and nine of them have a Wynne relationship, together representing 58.6% of all Cat dealer rental revenue on the list.
Dealer rental is also the most stable segment on the list. Caterpillar dealers have held between 16 and 20 places on the RER 100 in every year since 2010 (19 in both 2010 and 2025), and the 13 dealers present on both the 2010 and 2025 lists grew combined rental revenue 186.8%. That trails the 234.7% posted by the comparable non-giant cohort over the same period, so the dealer story is one of persistence rather than outperformance.
In short: Caterpillar dealer rental is the list’s most stable segment, and companies with a Wynne relationship hold most of its rental revenue.
Why do the biggest operators run RentalMan?
Everything above is correlation: it describes how companies running RentalMan performed relative to the rest of the RER 100, not what caused the difference. We can’t isolate software from management, market, fleet mix or capital access, and we won’t pretend otherwise. But we do know what we built RentalMan to do, and the pattern in the data is consistent with it. Here are a few key differentiators that set RentalMan apart from other platforms in the industry.
Enterprise software adapts to your business; cookie-cutter software makes you adapt to it
RentalMan is configured to the way a specific business runs rather than imposing one workflow on every customer. The list is consistent with that: adoption climbs steadily with company size, from 6.7% of sub-$50-million companies to half the billion-dollar tier, and the median RentalMan company is roughly three times the size of the median company on the list. Complex operations pick it, and they keep it, with a median tenure of 12 RER 100 appearances against 9 for the rest.
Multi-branch operations work as one company, not many
One system across every branch, tracking the general-ledger impact of each transaction, is what makes a 40-branch operator manageable as a single business. This is the mechanism most directly echoed in the data: RentalMan customers opened 89.9% of the net new branches added over five years and grew their networks by a median 48.6%, and they did it while holding revenue per location steady in real terms, rather than diluting it across a thinner network.
Fast, accurate billing shortens the cash cycle
Invoicing on rental contracts is where revenue is won or lost quietly. RentalMan’s automated billing and invoicing complete with simplified contract management are two advantages that customers take advantage of over the thousands of rental cycles that happen daily throughout the industry. These two advantages are part of what keeps companies using RentalMan productive and part of the set of fast-growing rental companies.
Knowing what to rent, where to put it, and when to service it
Across thousands of assets and dozens of branches, decisions about fleet mix, transfers and service timing determine how much revenue each location can produce. The closest measurable proxy in this dataset is revenue per location, and it favors RentalMan customers by 82% in aggregate and 45% at the median, a gap that has widened from 1.07× in 2015 to 1.45× in 2025. On the global IRN 100, where staff counts are published, the same pattern shows up in revenue per employee.
In short: on growth, scale, branch productivity and list tenure, the measures this data can speak to, companies running RentalMan lead the rest of the list.
How North America compares to the world
We ran the same analysis on the IRN 100, the global ranking of the world’s largest equipment rental companies published by International Rental News. Two findings echo across both lists, and one important difference separates them.
The revenue-per-branch premium holds on both sides of the Atlantic: 82% in North America ($7.2 million versus $4.0 million per location) and 72% globally (€6.0 million versus €3.5 million per depot). So does universal cohort growth: every RentalMan company in the ten-year RER cohort grew, and every RentalMan company in the five-year IRN cohort did too. So does retention: RentalMan customers leave both lists at a materially lower rate than everyone else: 5.6% versus 8.5% of company-years in North America, and 2.7% versus 7.2% globally.
The difference is where each market sits on the consolidation curve. The top five companies globally held 41.1% of IRN 100 revenue in 2025, still below the 51.9% that North America’s top five held back in 2010. The world is roughly fifteen years behind North America on the same curve, and the companies driving global consolidation are the same ones driving it here. That makes the North American list a reasonable preview of where the global market is heading.
In short: the revenue-per-branch premium, universal cohort growth and lower churn all repeat on the global list, which sits about fifteen years behind North America on consolidation.
Frequently asked questions
What software do the largest equipment rental companies use?
On the 2026 RER 100, 22 of the 109 companies run RentalMan, including 3 of the top 5 and 11 of the top 25 by rental revenue. Those 22 companies generated 68.8% of the list’s combined rental revenue. The rental management system at 64 of the remaining companies is not publicly identified.
What is the RER 100?
The RER 100 is an annual ranking published by Rental Equipment Register of North America’s largest equipment rental companies by rental revenue. The 2026 list contains 109 companies with $47.1 billion in combined rental revenue across 8,212 locations.
How fast are RentalMan customers growing?
Between 2020 and 2025, the median company running RentalMan on the RER 100 grew rental revenue 93.4%, compared with 39.7% for the rest of the list: compound annual growth of 14.1% against 6.9%. Over ten years, all 12 RentalMan companies present on both the 2015 and 2025 lists grew.
What is revenue per location in equipment rental?
Revenue per location divides a company’s rental revenue by its number of rental branches, as a measure of how much business each location generates. On the 2026 RER 100, companies running RentalMan averaged $7.2 million per location against $4.0 million for the rest of the list.
How fast did the fastest-growing equipment rental companies grow between 2020 and 2025?
Among RER 100 companies with at least $20 million of 2020 rental revenue, the fastest grower compounded rental revenue at 29.6% annually over five years, and the top ten all cleared 15%. Six of those ten run RentalMan, including the fastest grower on the list.
Is the equipment rental industry consolidating?
Yes. The top five companies on the RER 100 collected 66.8% of the list’s rental revenue in 2025, up from 51.9% in 2010. Companies below $250 million in rental revenue fell from 45.3% of list revenue to 13.9% over the same period, even though their combined revenue grew.
