Hertz Equipment Rental Corp. has entered into a franchise agreement with the Khudairi Group to provide rental equipment in Iraq under the Hertz Equipment brand. The move will significantly add to HERC’s existing network in the Middle East with HERC Iraq offering one of the largest light-to-medium equipment fleets in the country, serving oil and gas, construction, industrial and government customers. The group plans to open locations in Baghdad, Erbil, Basra and Sulaimani.
“This agreement reflects our long-term global business strategy to license franchises, establish joint ventures and, where appropriate, open company-owned branches in emerging and growth markets where the equipment rental model is poised for continuing expansion,” said Larry Silber, president and CEO of HERC. “We are especially pleased to partner with the Khudairi Group, which is one of Iraq’s most prominent commercial organizations and brings more than 100 years of demonstrated success to the HERC Iraq franchise.”
“HERC Iraq is well positioned to support the country’s ongoing development, with oil-related and industrial projects, commercial construction and infrastructure work underpinning Iraq’s revitalizations,” said Jay Early, international vice president, HERC. “The Khudairi Group’s experience working with firms engaged in engineering, procurement and construction, oilfield supply and service, and heavy machinery position HERC Iraq for immediate success. In addition, HERC Iraq’s access to a multitude of clients across all sectors throughout Iraq creates a solid platform for long-term growth.
“Our success in Saudi Arabia, our recent expansion into Qatar and our franchise in Iraq reflect our confidence in the ongoing development of key markets in the Middle East. With one of the largest and most diverse equipment lineups in the industry, we are excited to play a role in the development of the region’s important public and private projects.”
“Our experience and expertise across the oilfield, construction, industrial and government sectors enables us to understand and meet customer requirements in these demanding markets,” added Subhi Khudairi, president of the Khudairi Group. “We are committed to providing best-in-class equipment backed with superior service and support with a highly trained and professional team across our locations.”
HERC Iraq will offer earthmoving, power, aerial, material handling, electrical and compressed air equipment, beginning in January 2016.
HERC, based in Estero, Fla., has about 330 locations in the United States, Canada, China, France, Spain, Saudi Arabia and Qatar. HERC is No. 3 on the RER 100.
