Hertz Equipment Rental Corp. (HERC), Park Ridge, N.J., has acquired Arpielle Equipment Co., a New York City-based rental company focused primarily on rentals to the construction and industrial markets.
“Arpielle is HERC’s fifth acquisition in the past 12 months and is another significant step in our commitment to diversify HERC geographically as well as to expand its product and service portfolio,” said Mark Frissora, chairman and CEO of HERC’s parent company, Hertz Corp.
“Arpielle gives HERC an even larger footprint in the metropolitan New York City equipment rental market, the largest in the nation, and access to a broader range of contractor business and larger infrastructure projects. While the acquisition increases our overall market share immediately, HERC will begin supplementing Arpielle’s equipment offerings with the larger earthmoving pieces, aerial booms, generators and pumps in our fleet,” Frissora said.
“Arpielle also has a proprietary leadership position in renting and selling diesel particulate filters, which helps increase asset utilization and significantly reduce emissions, and furthers our goal to lead the equipment rental industry in sustainability solutions for its customers,” he said.
Hertz said the metropolitan NYC equipment rental market exceeds $1.3 billion. It is anticipated that Arpielle will generate incremental revenues of about $25 million in year one and will be accretive to Hertz’s 2012 earnings.
Founded in 2004 and headquartered in Long Island City, N.Y., Arpielle specializes in a line of products for rental and sales, and a rapid delivery system to meet customer daily equipment demands in New York City. Arpielle will expand HERC’s market share in the metropolitan New York City market and establish a prime rental location near the center of the city, allowing HERC to more easily serve its customers in the region.