Hertz Acquires Canadian Industrial Rental Company -- Irving Industrial Rentals
Hertz Continues Acquisition Strategy to Boost Worldwide Revenue Growth
Jul 14, 2009
PARK RIDGE, NJ -- (MARKET WIRE) -- 07/14/2009 -- Hertz Global Holdings, Inc. (
IIR, founded in 1998, has an extensive industrial product line that includes various size aerial platforms, forklifts, compressors, welders, generators, heaters, light towers and numerous other products. IIR supplies non-operated rental equipment throughout Atlantic Canada to support industry needs for oil refining, pulp and paper, ship building, construction, manufacturing and mining and is considered a leading solutions provider for the industrial sector.
IIR was purchased by Matthews Equipment Limited, Hertz's CN equipment rental subsidiary from the J.D. Irving Group. The acquisition was made for an undisclosed sum and will be integrated into Matthews Equipment's New Brunswick operations.
"Matthews' acquisition of Irving Industrial Rental is instrumental in the Company's continued growth in the Canadian industrial rental market," commented Hertz Equipment Rental Corporation President Gerry Plescia. "Irving Industrial Rental has a solid reputation throughout Atlantic Canada and will enhance Matthews' efforts to be the first choice equipment rental provider for the industrial market in Eastern Canada. Irving Industrial Rental also supports the Company's strategy to continue growing worldwide revenue through key acquisitions and we're confident that the acquisition will establish Matthews as a key player in the Maritime region's industrial rental market."
Hertz Equipment Rental Corporation -- a wholly owned subsidiary of The Hertz Corporation -- operates one of the world's largest equipment rental businesses, offering a diverse line of equipment, including tools and supplies, as well as new and used equipment for sale, to customers ranging from major industrial companies to local contractors and consumers through approximately 350 branches in the United States, Canada, China, France and Spain. The Hertz Corporation is the world's largest general use car rental brand, operating from approximately 8,000 locations in 145 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 42 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Australia and New Zealand. In addition, the Company has licensee locations in cities and airports in Africa, Asia, and the Middle East. Product and service initiatives such as Hertz #1 Club Gold®, NeverLost® customized, onboard navigation systems, SIRIUS XM Radio, and unique cars and SUVs offered through the Company's Prestige, Fun and Green Collections, set Hertz apart from the competition.