||2013 For the Record
- The Hertz Corp., Park Ridge, N.J. has launched HERC Ready Finance™, an equipment acquisition program, in collaboration with Hertz Equipment Rental Corp. (HERC). HERC Ready Finance combines the financial expertise of Donlen with the resources from Hertz Equipment, to provide products and funding options. The company says this will allow Hertz Equipment’s commercial customers access to “one-stop-shopping” for financing and assets across a wide range of equipment and trucks. This is the second product launched by Hertz and Donlen that leverages their relationship. Previously, Hertz Value Lease™ was introduced to the market, providing the fleet industry with a leasing alternative product. By virtualizing the Hertz rental inventory and making it available to their customers for lease, commercial fleets can finance quality, pre-driven vehicles for a shorter time at a lower cost, the company says.
- IronPlanet, Pleasanton, Calif., an online marketplace for used heavy equipment, has acquired Asset Appraisal Services (AAS), Omaha, Neb., an inspection, appraisal and online auction services company focused on the commercial truck sector. AAS will operate as a wholly owned subsidiary of IronPlanet and continue to use the Asset Appraisal Services name.
- Classic Party Rentals, an event rental company in the United States, and Chameleon Chair have extended their business relationship, which began in 2007. As in the prior agreement, Classic will continue its management and operations of Chameleon’s rental business throughout the United States. Classic Party Rentals retains exclusive rights to rent Chameleon Chair’s inventory in each of its markets across the U.S. Chameleon will continue to operate as an independent company. Chameleon’s primary focus is on design, manufacture and sale of its proprietary line of unique event chairs, barstools and chair cover products. The goal of the agreement is to grow the revenues and market share of both companies. “The extension of our agreement with Chameleon Chair solidifies Chameleon Chair as part of our product lineup offered to our clients,” said Jeff Black, president and CEO of Classic Party Rentals. “More importantly it illustrates what can happen when you and someone who has strengths that complement yours join forces and focus on a single goal. The synergy of the relationship allows for us to accomplish together what could have been challenging separately.”
- Sunbelt Rentals, Fort Mill, S.C., has acquired Milwaukee High Lift, Milwaukee, and Madison High Lift, Madison, Wis. S.C. FocalPoint Securities served as exclusive financial advisor to Milwaukee and Madison High Lift, which serve the metropolitan markets of Milwaukee and Madison, Wis., respectively. Both companies are majority owned by the founder and industry veteran Mark Lancourt. The companies specialize in renting aerial equipment such as scissor lifts and articulated and telescopic booms. “Sunbelt is the ideal partner for Milwaukee High Lift because we share the same culture, a culture dedicated to providing our customers with high quality equipment and excellent customer service. With Sunbelt’s resources, we will be able to meet our growing demand and execute our regional growth strategy. FocalPoint’s industry expertise was critical in communicating our strengths and market strategy and in ultimately closing the transaction,” Lancourt said.