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Press Releases

Hertz Acquires Spanish Equipment Rental Company -- Caprisa

The Hertz Corporation , the world's largest car rental company and a leading construction and industrial equipment rental business, has continued the expansion of its European equipment rental business with the acquisition of Caprisa SA, a leading equipment rental company in northern Spain. The company is based in Oviedo, with three locations; one each in Oviedo, Leon and Valladolid.

Caprisa was founded in 1991 and is a specialist in forklifts and aerial platforms. Net revenues for 1999 were US$5.2 million. The acquisition was made by Hertz Equipment Rental Europe's Spanish unit, Hertz Alquiler de Maquinaria SL, for an undisclosed sum.

Caprisa will be integrated into Hertz Alquiler de Maquinaria SL.

"This acquisition provides Hertz Equipment Rental Europe with a quality customer base and will allow Hertz Equipment Rental to develop a new product line (forklift trucks) at other European locations. With this acquisition, our presence in Spain will total 17 rental locations," said Miguel Camara, General Manager, Spain, for Hertz Equipment Rental.

Hertz is the only national equipment rental company in Spain and is the second largest equipment rental company in France. Hertz operates more than 90 equipment rental locations in Europe and 290 locations in North America.

SOURCE: The Hertz Corporation

Contact: Paula R. Stifter, of The Hertz Corporation, 201-307-2824

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