Hertz buys Californian pump rental company
Hertz Equipment Rental Corporation (HERC) has acquired DW Pumps, a pump rental company in Northern California with annual revenues of around US$6 million. The purchase price was not disclosed.
DW Pumps was founded in 2003 by brothers Dan and Doug Wathor and is based in San Leandro, California, with a second location in Sacramento. A dealer for Thompson Pumps, it rents a wide range of pumps and ancillary equipment to industrial and construction customers.
HERC said it expected to grow the business to "quickly exceed" $10 million by expanding its operations throughout California. The company added that the US pump rental market is worth about $600 million annually.
"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," said Mark Frissora, Hertz chairman and chief executive officer.
"DW Pumps specialises in providing pump solutions for industrial, municipal and construction customers on the West coast."
In addition to its general rentals business, HERC runs several speciality divisions, including Industrial Plant Services, Pump and Power Services, Aerial Services and Government Services. It has 325 locations in the US, Canada, China and Europe.
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