Park Ridge, N.J. — Hertz Equipment Rental Corp. last month announced the acquisition of Hamden, Conn.-based All Reach LLC, one of the top aerial rental and services companies in New England. All Reach serves clients throughout Connecticut, Westchester County, N.Y., Rhode Island and western Massachusetts.
“Hertz has been actively seeking new growth opportunities for its equipment rental business,” said Hertz chairman and CEO Mark Frissora. “With the All Reach acquisition, we are able to further strengthen HERC's presence in the Northeast while enhancing its product offering to customers throughout the region.”
Founded in 1999, All Reach specializes in rental aerial equipment and forklifts. All Reach had revenues of about $7 million in 2007.
“Expanding HERC's aerial business is in line with our overall strategy to continue growth and diversification of our business,” added HERC president Gerry Plescia. “The All Reach acquisition will reinforce HERC's position in the aerial equipment rental business and will give the company service customers throughout the Northeast corridor.”
HERC estimates All Reach as the third-largest aerial equipment rental company in the New York/New England regions. A major player in numerous large projects throughout Connecticut, All Reach was instrumental in supplying equipment for the construction and renovation of Foxwood's Casino and Resorts. All Reach focuses on boom and scissorlifts, straight-mast forklifts and reach forklifts.
All Reach was advised in the transaction by Los Angeles-based FocalPoint Partners.
“Our relevant equipment rental experience was critical in allowing the shareholders of All Reach to obtain the most attractive valuation for their business,” said FocalPoint CEO Dan Conway.
“When we first considered going to market, the housing cycle had already begun to turn and I was concerned whether I would be able to realize the full value of my business,” said Joseph Hill, All Reach president. “FocalPoint ran a competitive process, resulting in several competitive offers, the best of which I accepted from Hertz.”
Headquartered in Park Ridge, N.J., HERC is No. 4 on the RER 100.