SOURCE: The Hertz Corporation

March 03, 2008 17:30 ET

Hertz Acquires Spanish Power Generation Rental Company - Quilovat

Hertz Continues Acquisition Strategy to Boost Worldwide Revenue Growth

PARK RIDGE, NJ--(Marketwire - March 3, 2008) - Hertz Global Holdings, Inc. (NYSE: HTZ) announced that Hertz Equipment Rental (HERC) has acquired Quilovat, one of the top power generation rental companies in Spain. Located near Barcelona in the Cataluña region of Spain, the company has two equipment rental locations and will significantly boost HERC's established Energy Division in Spain.

Founded in 1994, Quilovat specializes in renting to customers on a regional and nationwide basis and is recognized for providing top customer service in the power generation rental market. The acquired business had estimated revenues of US$22 million (EUR 14.7) in the year to December 31, 2007. The acquisition was made by HERC's Spanish unit for an undisclosed sum and will be integrated into HERC's Spanish operations.

Quilovat provides full service energy generation equipment rentals for events, fairs (including air conditioning) and power companies' network maintenance and is focused on the Chemical, Engineering and Electrical industries. In addition, with a solid business model, Quilovat's customer portfolio includes numerous companies that operate nationwide.

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."

Hertz Equipment Rental operates one of the world's largest equipment rental businesses, offering a diverse line of equipment, including tools and supplies, as well as new and used equipment for sale, to customers ranging from major industrial companies to local contractors and consumers through more than 360 branches in the United States, Canada, France and Spain. The Hertz Corporation is the world's largest general use car rental brand, operating from approximately 8,000 locations in 145 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 69 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Australia and New Zealand. In addition, the Company has licensee locations in cities and airports in Africa, Asia, and the Middle East. Product and service initiatives such as Hertz #1 Club Gold®, NeverLost® customized, onboard navigation systems, SIRIUS Satellite Radio, and unique cars and SUVs offered through the company's Prestige, Fun and Green Collections, set Hertz apart from the competition.

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