LYNWOOD, Wash. - Hertz Equipment Rental Corp. has finalized its long-rumored acquisition of AA Rentals, one of the leading light contractor and homeowner rental operations in the Northwest. No price was disclosed for the cash-for-stock transaction completed last month.

AA Rentals, No. 39 on the RER 100, is based here, with 20 locations in the Seattle area and annual revenue of about $25 million.

"This acquisition strategically positions HERC in a new business segment," said HERC president Gerald Plescia. "In addition, we're excited that [former part-owners] Mark Jaeger and Kevin Usher will remain with the company as area managers."

HERC, Park Ridge, N.J., has more than 300 North American locations.

Permits for new housing construction rose 8.7 percent in January to 1.763 million units at a seasonally adjusted annual rate - the highest in a year. Permits for single-family units rose 6.1 percent in January to 1.303 million -- the highest since February 1999.

--Source: U.S. Department of Commerce