Hertz enters Italy with power rentals acquisition
By Murray Pollok24 August 2010
Hertz Equipment Rental Corporation (HERC) has acquired Rent One Italy, a power rental company based near Siena that rents equipment in the telecom and events sectors. The acquisition price has not been disclosed.
Rent One, which had revenues of €2.7 million (US$3.9 million) in 2009, was co-founded in 2007 by Italian genset manufacturer Pramac and Mr Leandro Scomazzon. Pramac was the majority shareholder. Mr Scomazzon will stay on with Hertz as general manager of the Italian energy services business. Rent One's customers include mobile phone companies, such as Vodafone and Wind; the Italian Football Championships; and Ferrari Team Events.
Rent One will become part of Hertz Energy Services division within the HERC business in Europe.
Gerry Plescia, president of HERC, said; "Rent One Italy has a solid reputation in the telecom and events industry and Hertz's acquisition...is a great fit with our energy services division.
"Rent One supports Hertz's strategy of diversifying its energy services division into new regions while providing Hertz access to telecom and event customers needing power generation and climate equipment."
HERC in Europe has its own rental operations n France and Spain, as well as franchise operations in several other countries. The acquisition is significant because it expands HERC's coverage into another major European rental market, one that many other major European rental players such as Loxam, GAM and Lavendon have so far resisted.
HERC's interest in power rentals appears to be growing. In Spain, for example, over the last few years it has downsized its Spanish rental business to focus on power rentals rather than the general equipment fleet that it operates in France.