Hertz Completes Donlen Acquisition

Donlen Corporation, a provider of fleet leasing and management services, has officially been acquired by Hertz Global Holdings Inc., according to a Sept. 1 press release.

Donlen was purchased for $177 million by Hertz, which also assumed $770 million of Donlen fleet debt. The price is lower than the initially announced purchase price of $250 million. Initial assumption of fleet debt was reported to be $680 million.

The acquisition puts Hertz further along in trying to become “the most flexible transportation programs for corporate and general consumers,” the release states. The buy-out “is consistent with the evolution of Hertz’s asset-light, technology-focused business model,” says Hertz Chairman and CEO Mark P. Frissora.

Donlen has more than 144,000 vehicles under lease and management in the United States, Canada and Mexico, and in 2010 the company generated revenues of about $350 million.

Click here for an earlier article on Hertz’s acquisition of Donlen Corporation.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Understanding The Fleetification of Everything

As fleet miles increase exponentially, and as new stratum of fleet enter both consumer and business use cases, the "founding fathers" who gathered at Fleet Forward in Miami last week have some work to do.

The Problem with Valuing Safety Technology

As advanced safety technologies have migrated to mainstream vehicles, retaining value for these options at resale remains an issue.

ELD Mandate: Is Your Head Still in the Sand?

If you think you have 11 weeks to implement an Electronic Logging Device system to meet the Dec. 18 compliance deadline, you really don’t — for a few reasons.

Job Finder: Access Top Talent. Fill Key Positions.

>