Loxam Negotiating to Buy HERC’s French and Spanish Rental Businesses

Hertz Corp. announced it has entered into exclusive negotiations with the Loxam Group for the potential acquisition of the France and Spain businesses of Hertz Equipment Rental Corp.
June 26, 2015

Hertz Corp. announced it has entered into exclusive negotiations with the Loxam Group for the potential acquisition of the France and Spain businesses of Hertz Equipment Rental Corp. The sale, if consummated, would transfer the entire share capital of Hertz Equipement France SAS and Hertz Alquiler de Maquinaria SLU to Loxam. The proposed transaction includes 60 locations in France and two in Spain.

As part of the process HERC and Loxam are each consulting with their respective Works Councils in France.

Loxam, based in France, is the largest equipment rental company in Europe, with 623 locations in 14 countries. The potential acquisition would increase its market share in the Paris area and the northern and western regions of France and strengthen its presence in Spain.

HERC, the third-largest equipment rental company in North America with about 260 locations in North America, also operates in seven other countries. The possible divestiture of its France and Spain businesses would enable the company to focus more on its core and specialty markets. The company is seeking to maximize its profitability and shareholder value as it prepares to separate from the Hertz Corporation.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.

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