The Hertz Corporation (NYSE: HRZ), the world’s largest car rental company and a leading construction and industrial equipment rental business, has further expanded its equipment rental business in France with the acquisition of the Locenergie group of companies, headquartered in Nantes, a construction and public works-oriented company with 21 locations throughout the north and west of France, including Calais, Lille, Rennes, Nantes, Poitiers and Amiens.
The acquisition was made by Hertz Equipement France S.A. for an undisclosed sum. Locenergie’s revenues for 1999 were $32 million.
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Locenergie will be integrated into Hertz Equipement France.
Commenting on the acquisition, Olivier Guiraud, Country Manager for Hertz France said, “We’re extremely pleased to acquire a company with such a long-standing reputation in the equipment rental industry as Locenergie. The acquisition strategically increases Hertz Equipement’s presence in the north and west of France and underscores our commitment to growing our French network, now totaling more than 70 locations.”
In addition, the acquisition makes Hertz France the second largest equipment rental company in France. Hertz Equipment operates from more than 375 locations in North America and Europe, and is the largest equipment rental company in Spain.
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