Hertz Global Holdings Inc. announced that Hertz Equipment Rental Corporation (HERC) has acquired Rent One Italy, one of the top power generation companies providing power to telecom and event companies throughout Italy.
The acquisition was made by HERC's European business unit for an undisclosed sum and will be integrated into HERC's European operations.
Hertz said Rent One Italy, which is headquartered in Casole d'Elsa, Siena, will complement HERC's established Hertz Energy Services Division.
"Rent One Italy has a solid reputation in the telecom and events industry, and Hertz's acquisition of Rent One is a great fit with our energy services division. Rent One supports Hertz's strategy of diversifying its energy services division into new regions while providing Hertz access to telecom and event customers needing power generation and climate equipment," said Gerry Plescia, president of HERC.
Founded in 2007, Rent One Italy is a power generation rental company that services customers in the event and telecom business, specifically mobile phone companies, including Vodafone and Wind; the Italian Football Championships and Ferrari Team Events. The acquired business had 2009 revenues of US$3.9 million (2.7 million euros).