Disposal of Hertz Equipment Rental France to Loxam
Sycomore Corporate Finance acted as exclusive financial advisor to Hertz Global Holdings
The transaction includes 60 locations in France and two in Spain. The acquisition will enable Loxam to strengthen its nationwide leadership in France and reinforce its specialty activities.
Simultaneously, it allows Herc to focus on core and specialty market expansion and investments that support its growth strategy.
The business remains on course with plans to separate from Hertz Global Holdings and become an independent company by mid-2016.
Hertz Equipment Rental, 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 lifts, air compressors and tools, earthmoving equipment and power generators, forklifts and material handling equipment, pumps, and trucks and trailers one of the largest equipment rental businesses with more than 330 locations worldwide offering a diverse line of equipment and tools for rent and sale. HERC primarily serves the construction, industrial, oil, gas, entertainment and government sectors.
Hertz Global Holdings (NYSE: HTZ) operates the Hertz, Dollar, Thrifty and Firefly car rental brands in more than 10,300 corporate and licensee locations throughout approximately 145 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. Additionally, Hertz Global Holdings owns the vehicle leasing and fleet management leader Donlen Corporation, operates the Hertz 24/7 hourly car rental business and sells vehicles through its Rent2Buy program.
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.