Hertz Equipment Rental Co (HERC) acquired Quilovat, a Spanish power rental company based near Barcelona, in March this year. The price was not disclosed.
Quilovat, which was founded in 1994, reported annual revenues of €14.7 million (US$22 million) in 2007 and operates from two depots in the Catalan region of Spain. The company will be added to HERC’s existing energy rental division in Spain.
Juan Carlos Azcona Martinez, general manager, HERC Spain, said; "Quilovat is the market leader in the Cataluña region of Spain and Hertz's acquisition of Quilovat makes HERC a key player in the fast-growing power generation segment. Quilovat complements HERC's customer and product diversification strategy and will enhance the power generation services currently offered by HERC. With some of the best specialists in the industry, Quilovat will be merged into HERC's Energy Division and will enable HERC to expand throughout Spain."
Quilovat rents generators up to 1000 kVA for events, industrial and engineering customers, including numerous companies operating nationally in Spain.
The acquisition of Quilovat is part of a strategy by HERC to boost its revenues worldwide. In April, it acquired All Reach, LLC, an aerial lift rental company based in Connecticut, US, with annual revenues of around US$7 million.