ESTERO, Fla., Oct. 30, 2015 /PRNewswire/ -- Hertz Global
Holdings (NYSE: HTZ) has announced that it has completed the sale
of the France and Spain businesses of Hertz Equipment Rental
Corporation (HERC) to the LOXAM Group (LOXAM) through the transfer
of the entire share capital of Hertz Equipement France SAS and
Hertz Alquiler de Maquinaria, SLU. The transaction includes
60 locations in France and two in
Spain.
HERC is a leading North American equipment rental company with
operations in the Middle East and
China along with a presence in
eight other countries through franchise partnerships. The
business remains on course with plans to separate from Hertz Global
Holdings and become an independent company by mid-2016.
LOXAM is the leading equipment rental company in Europe, with over 4,500 employees and 623
locations across fourteen countries. The transaction increases its
market share in the Paris area,
the North and West of France as
well as reinforces its Spanish network, strengthening thereby
LOXAM's positioning as a premier player in the European rental
industry.
"This transaction will enable HERC to focus on core and
specialty market expansion and investments that support our growth
strategy, both in the short term and for our future as a standalone
company," said Larry H. Silber,
President and Chief Executive Officer, HERC. "We will
continue to evaluate opportunities to increase our global footprint
in emerging and growth markets, with an emphasis on franchises and
joint ventures, as well as selective development of company-owned
branches."
Gerard Deprez, Chairman of LOXAM,
declared: "I am pleased to announce this acquisition. This
transaction allows LOXAM to strengthen its nationwide leadership in
France, where HERC is one of the
leaders in construction equipment rental, and to reinforce its
specialty activities. HERC Spain will bolster LOXAM's current
presence and allow LOXAM to grow in power equipment rental. I am
also glad to welcome HERC's France
and Spain experienced teams into
the LOXAM Group. Together we will join forces to provide our
customers with the best possible service."
Sycomore Corporate Finance and Linklaters acted, respectively,
as exclusive financial and legal advisors to Hertz. LOXAM was
advised by Cleary Gottlieb Steen
& Hamilton.
About Hertz Global Holdings
Hertz Global Holdings
operates the Hertz, Dollar, Thrifty and Firefly car rental brands
in more than 10,300 corporate and licensee locations throughout
approximately 150 countries in North
America, Europe, Latin America,
Asia, Australia, Africa, the Middle
East and New Zealand. Hertz Global Holdings is the
largest worldwide airport general use car rental company with more
than 1,600 airport locations in the U.S. and more than 1,300
airport locations internationally. Product and service initiatives
such as Hertz Gold Plus Rewards, NeverLost®,
Carfirmations, Mobile Wi-Fi and unique vehicles offered
through the Adrenaline, Dream, Green and Prestige Collections set
Hertz Global Holdings apart from the competition.
Additionally, Hertz Global Holdings owns the vehicle leasing and
fleet management leader Donlen Corporation and sells vehicles
through its Rent2Buy program. The Company also owns Hertz Equipment
Rental Corporation ("HERC"), one of the largest equipment rental
businesses with approximately 280 locations worldwide, including
franchise locations, offering a diverse line of equipment and tools
for rent and sale. HERC primarily serves the construction,
industrial, oil, gas, entertainment and government sectors. For
more information about Hertz Global Holdings, visit:
www.hertz.com.
About Hertz Equipment Rental Corporation
Hertz
Equipment Rental Corporation (www.hertzequip.com) – a wholly owned
subsidiary of Hertz Global Holdings since 1965 – operates one of
the world's largest equipment rental businesses, offering a diverse
line of equipment and tools for rent and sale. Products
include aerial lifts, air compressors and tools, earthmoving
equipment and power generators, forklifts and material handling
equipment, pumps, and trucks and trailers. Hertz Equipment also
offers programs and equipment through its customer programs for
Aerial, Energy, Entertainment, Government, HERC360 Fleet
Management, Industrial Plants, National Accounts and Safety. With
approximately 260 branch locations in the
United States and Canada,
along with more than 20 international branches or franchise
locations, Hertz Equipment Rental offers daily, weekly, monthly and
long-term rentals, tools and supplies, as well as new and used
equipment for sale.
About LOXAM
LOXAM is the leading equipment rental
company in Europe with
consolidated revenue of €812 million in 2014 and approximately
4,500 employees. LOXAM's network of more than 623 branches extends
over 12 countries in Europe
(France, Germany, the United
Kingdom, Ireland,
Belgium, Switzerland, Spain, Luxemburg, the
Netherlands, Denmark,
Norway and Sweden) as well as in Morocco and Brazil.
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SOURCE Hertz Global Holdings