Hertz Equipment Rental Expands Into Off Shore Equipment Rentals With Acquisition of Delta Rigging & Tools' Equipment Rental Operation
-- Hertz Continues Acquisition Strategy to Boost Revenue Growth --
PARK RIDGE, N.J., Oct. 28, 2011 /PRNewswire/ -- Hertz Global Holdings, Inc. (NYSE: HTZ) announced that its equipment rental division, Hertz Equipment Rental Corporation, (HERC) has acquired Delta Rigging & Tools' offshore equipment rental division based in New Iberia, La., expanding its Oil and Gas customer base into the offshore market.
"Hertz continues to make strategic investments in the oil and gas exploration and production sector in North America," commented Mark P. Frissora, Hertz Chairman and Chief Executive Officer. "We believe that Oil and Gas is one of the strongest segments of Hertz's industrial business. The Delta Rigging & Tools acquisition allows Hertz to further penetrate the exploratory drilling activity in the offshore market and leverage our existing industrial Oil and Gas customer base by providing new products and services in this market segment."
By acquiring the New Iberia operation, Hertz continues its strategy of expanding into the Oil and Gas drilling markets in North America. Hertz Equipment Rental specializes in supporting this industry with 24/7 service and the rental of air compressors, light towers, welders, generators, pumps and a variety of tools and products.
The New Iberia, Louisiana location was Delta's only equipment rental operation carrying compressors, light towers and welders. The purchase by Hertz Equipment Rental will allow for faster growth of the New Iberia operation, as it fits within Hertz's core competencies of industrial rental solutions in power generation, pumps, industrial air compressors, light towers, welders and general offshore tools and products.
"Delta Rigging & Tools continues to have a strong presence with full service facilities throughout Louisiana. The sale of our New Iberia rental assets will allow us to continue to make capital improvements to existing facilities in Louisiana, as well as to expand our presence in new markets," said Kevin Rodgers, CEO of Delta Rigging & Tools.
Headquartered in Houston, TX, Delta Rigging & Tools, Inc. is one of the largest U.S. rigging companies offering a complete portfolio of lifting solutions, including hoists, winches, wire rope, wire and synthetic slings, accessory parts, and hardware as well as testing, inspection and field services. Delta Rigging & Tools serves both domestic and international customers and provides complete lifting and rigging solutions and support for a diverse range of markets.
Hertz Equipment Rental Corporation – 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 manlifts, air compressors and tools, earthmoving equipment and power generators, forklifts and material handling equipment, pumps, and trucks and trailers. Hertz Equipment also offers custom programs and equipment through its specialty service groups; Industrial Plant Services, Pump and Power Services, Aerial Services and Government Services. With approximately 325 locations in the United States, Canada, China and Europe, Hertz Equipment Rental offers daily, weekly, monthly and long-term rentals, tools and supplies, as well as new and used equipment for sale.
The Hertz Corporation is the world's largest general use car rental brand, operating from approximately 8,600 locations in 146 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 81 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Asia, Australia and New Zealand. In addition, the Company has licensee locations in cities and airports in Africa and the Middle East. Product and service initiatives such as Hertz #1 Club Gold®, NeverLost® customized, onboard navigation systems, SIRIUS XM Satellite Radio, and unique cars and SUVs offered through the company's Prestige, Fun and Green Collections, set Hertz apart from the competition.
For more information about Hertz Equipment, visit the company online at www.hertzequip.com.
SOURCE Hertz Global Holdings, Inc.
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