Hertz Equipment Rental Acquires DW Pumps
-- HERC Acquisitions Support Revenue Diversification Strategy --
PARK RIDGE, N.J., Jan. 5, 2012 /PRNewswire/ -- Hertz Global Holdings, Inc. (NYSE: HTZ) announced that Hertz Equipment Rental Corporation (HERC) has acquired DW Pumps, a leading pump rental company in Northern California.
"With the acquisition of DW Pumps, HERC continues its diversification strategy of expanding into specialty services and products for a broad range of equipment rental customers," commented Mark P. Frissora, Hertz Chairman and Chief Executive Officer. "DW Pumps specializes in providing pump solutions for industrial, municipal and construction customers on the West coast."
The pump product and service market is estimated at $600 million in the U.S., and it is anticipated that DW Pumps will generate approximately $6 million in new revenues for HERC during 2012 which will quickly exceed $10 million as the business is expanded throughout California.
Founded in 2003 and headquartered in San Leandro, Ca., with a second location in Sacramento, DW Pumps has developed a strong market position and diversified customer base in the industrial and construction sector. DW Pumps diversified fleet includes large submersible pumps, diesel auto priming and high pressure pumps, generators, auxiliary fuel tanks, electric transformers, and product accessories.
Hertz Equipment Rental Corporation – a wholly owned subsidiary of The Hertz Corporation 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 manlifts, air compressors and tools, earthmoving equipment and power generators, forklifts and material handling equipment, pumps, and trucks and trailers. Hertz Equipment also offers custom programs and equipment through its specialty service groups; Industrial Plant Services, Pump and Power Services, Aerial Services and Government Services. With approximately 325 locations in the United States, Canada, China and Europe, Hertz Equipment Rental offers daily, weekly, monthly and long-term rentals, tools and supplies, as well as new and used equipment for sale.
The Hertz Corporation is the world's largest general use car rental brand, operating from approximately 8,600 locations in 146 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 81 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Asia, Australia and New Zealand. In addition, the Company has licensee locations in cities and airports in Africa and the Middle East. Product and service initiatives such as Hertz #1 Club Gold®, NeverLost® customized, onboard navigation systems, SIRIUS XM Satellite Radio, and unique cars and SUVs offered through the company's Prestige, Fun and Green Collections, set Hertz apart from the competition.
For more information about Hertz Equipment, visit the company online at www.hertzequip.com.
SOURCE The Hertz Corporation