30.10.2015

Loxam takes Hertz France/Spain

Loxam has confirmed that is has completed the deal to acquire Hertz Equipment Rental’s operations in France and Spain.

The deal is a share purchase transaction with Loxam acquiring all outstanding equity in Hertz Equipement France SAS and Hertz Alquiler de Maquinaria, SLU, and includes 60 locations in France and two in Spain.

Hertz and Loxam announced that they were holding exclusive negotiations to acquire the two operations back in June. Click here to see Loxam looks at Hertz France & Spain

Larry Silber, chief executive of Hertz Equipment Rentals said: “This transaction will enable us to focus on core and specialty market expansion and investments that support our growth strategy, both in the short term and for our future as a standalone company. We will continue to evaluate opportunities to increase our global footprint in emerging and growth markets, with an emphasis on franchises and joint ventures, as well as selective development of company-owned branches.”

Loxam chairman Gérard Déprez added: “I am pleased to announce this acquisition. This transaction allows Loxam to strengthen its nationwide leadership in France, where Hertz is one of the leaders in construction equipment rental, and to reinforce its specialty activities. Hertz Spain will bolster Loxam’s current presence and allow us to grow in power equipment rental. I am also glad to welcome Hertz France and Spain’s experienced teams into the group. Together we will join forces to provide our customers with the best possible service.”