Hertz continues acquisition strategy

July 27, 2009 – Hertz Global Holdings, Inc. announced that Matthews Equipment Limited, Hertz’s Canadian equipment rental subsidiary, has acquired assets of the equipment rental business conducted by J.D. Irving, Limited under the name Irving Industrial Rentals (IIR), one of Atlantic Canada’s leading industrial equipment rental companies in New Brunswick. 

Located in Saint John, IIR’s strategic focus on the industrial market segment will significantly boost Matthews’ established presence in the New Brunswick region.

IIR, founded in 1998, has an extensive industrial product line that includes various size aerial platforms, forklifts, compressors, welders, generators, heaters, light towers and numerous other products.  IIR supplies non-operated rental equipment throughout Atlantic Canada to support industry needs for oil refining, pulp and paper, ship building, construction, manufacturing and mining and is considered a leading solutions provider for the industrial sector.

IIR was purchased by Matthews Equipment Limited, Hertz’s CN equipment rental subsidiary from the J.D. Irving Group.  The acquisition was made for an undisclosed sum and will be integrated into Matthews Equipment’s New Brunswick operations.

“Matthews’ acquisition of Irving Industrial Rental is instrumental in the Company’s continued growth in the Canadian industrial rental market,” says Hertz Equipment Rental Corporation president Gerry Plescia.  “Irving Industrial Rental has a solid reputation throughout Atlantic Canada and will enhance Matthews’ efforts to be the first choice equipment rental provider for the industrial market in eastern Canada.  Irving Industrial Rental also supports the Company’s strategy to continue growing worldwide revenue through key acquisitions and we’re confident that the acquisition will establish Matthews as a key player in the Maritime region’s industrial rental market.”

Hertz Equipment Rental Corporation – a wholly owned subsidiary of The Hertz Corporation -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 approximately 350 branches in the US, Canada, China, France and Spain.