HERC expands in New York City with Arpielle acquisition
By Murray Pollok09 March 2012
Hertz Equipment Rental Corp (HERC) has acquired Arpielle Equipment Co in New York City, its fifth acquisition in the last 12 months. HERC said it expected the deal to add US$25 million in revenues in its first year with Hertz.
The acquisition - the price of which was not disclosed - will increase HERC's footprint in the New York City area, a market that HERC estimates at $1.3 billion.
Mark Frissora, Hertz chairman and CEO, said the acquisition was "another significant step in our commitment to diversify HERC geographically as well as to expand its product and service portfolio.
"Arpielle gives HERC an even larger footprint in the metropolitan New York City equipment rental market, the largest in the nation, and access to a broader range of contractor business and larger infrastructure projects."
HERC said it would immediately start to add larger earthmoving equipment, aerial booms, generators and pumps to the Arpielle location in Long Island.
"Arpielle also has a proprietary leadership position in renting and selling Diesel Particulate Filters, which helps increase asset utilisation and significantly reduce emissions, and furthers our goal to lead the equipment rental industry in sustainability solutions for its customers," added Mr Frissora.
HERC said that Arpielle had developed a "unique business model" focusing on an efficient delivery system for its fleet of air compressors, generators, excavators, forklifts, light towers, attenuated trucks, message boards, and more.