Hertz Equipment Rental Corp. has acquired Pioneer Equipment Rental & Sales, one of Oklahoma’s leading equipment rental players. Pioneer, based in Ponca City, Okla., with 10 branches in the state and another in North Texas, focuses primarily on rental to the construction, rental and energy markets, serving the Oklahoma, southern Kansas and north Texas areas.
Pioneer was founded in 1998 by John Redwine and his father, equipment rental veteran Larry Redwine. Pioneer started in small communities, building strength around the state with local contractors, particularly those working in industrial facilities and refineries. As the company grew and its customers spread out around the state, Pioneer grew and added branches, eventually making inroads into major urban centers Oklahoma City and Tulsa.
“Pioneer Rental 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 Hertz Global Holdings. “Pioneer Rental gives HERC an even larger footprint in the Oklahoma equipment rental market and access to a broader range of contractor and industrial businesses. The acquisition immediately increases HERC’s overall market share, bringing to 12 the total number of HERC locations in Oklahoma, while advancing HERC’s industrial penetration strategy particularly in the attractive oil and gas market.”
The Oklahoma industrial and construction markets are slated to grow more than 20 percent in 2013, HERC said. Pioneer Rental will add $25 million of annual revenue to HERC and the acquisition will be accretive to Hertz’s 2012 earnings.
“I’m very excited to join the Hertz team,” said John Redwine, Pioneer president. “Hertz has been a strong player in this area and around the country for a long time. I’m convinced that both the Hertz and Pioneer customers will greatly benefit with the expanded footprint and services that will be available to meet their equipment needs.”
Pioneer also offers extensive repair and maintenance programs with comprehensive parts, inventories, mobile service, planned maintenance and fleet management.
Pioneer Equipment Rental is No. 82 on the RER 100 with $16.2 million in 2011 equipment rental volume and $25.9 million in total revenue. Based in Park Ridge, N.J., HERC is No. 4 on the RER 100.
Pioneer was featured in an RER cover story in Feb. 2012. To learn more about the company, visit http://rermag.com/business_technology/profiles_interviews/pioneer-equipment-rental-diversify-survive-prosper-20120201/index.html.