Park Ridge, N.J. — Hertz Equipment Rental Corp. has acquired Forces Inc., a leading power generator rental company headquartered near Chicago, and Burbank, Calif.-based 24/7 Studio Equipment, which specializes in the rental of equipment for film and television production.
“The Forces acquisition is strategically important for Hertz Equipment Rental as it will enable us to fortify our positioning in the Metro-Chicago area,” said Mark Frissora, Hertz chairman and CEO. “The construction and industrial market in Chicago is estimated to be a $17.5 billion market. By acquiring Forces, HERC will be able to expand its energy services business, with an anticipated $6 million in new revenues for 2011, while further strengthening our long-term strategy to diversify our business in the industrial sector.”
HERC's energy services business specializes in providing power generator solutions to customers worldwide. The Forces acquisition enables Hertz to further penetrate power generation opportunities in the third-largest industrial market in the U.S., while enabling the company to tap into new opportunities in entertainment services, government, construction and other power needs in Chicago and surrounding markets.
“HERC is excited to have acquired Forces as it is one of the leading power generation companies in the Chicago area,” said Gerry Plescia, HERC president. “Forces is a strong brand and brings to the table a tenured and experienced staff. With their technological and engineering experience, we envision tapping into the Forces staff to enhance our generator capabilities throughout the country.”
Headquartered in Naperville, Ill., Forces has been a power solution provider in Chicago and the upper Midwest for 40 years. With a strong market presence and reputation in Chicago, Forces provides power solutions to a diversified customer base. With a balanced fleet mix, Forces carries generators from 10kw to 1,500kw as well as temperature control products in heat and air conditioning.
In the past year and a half, HERC has aggressively pursued growth by acquisition and international expansion. Its acquisition of 24/7 Studio Rentals last month comes after its acquisition of First Call Studio Equipment in Sylmar, Calif., its first major foray into the rental of equipment for film and television production. As film and television production increasingly branches out beyond California, HERC hopes, with the acquisition of 24/7, to leverage its national presence to grow in the film production market.
24/7 founder and president Lance Sorenson, one the industry's pioneers in renting equipment for television and film production, will remain with the company and work with HERC as director of strategic sales, helping to implement HERC's plan on a national level. HERC also recently acquired Western Machinery, a leading rental company in Hawaii. In August of last year, it bought RentOne, an Italian power generation rental specialist; in February it entered into a joint venture to establish equipment rentals in Saudi Arabia; in July 2009, it acquired Irving Industrial Rental, Saint John, New Brunswick, Canada; in April 2009 it bought Rent One, a power generation rental company in Spain. HERC also established rental facilities in China.
24/7 is No. 101 on the expanded RER 100. Park Ridge, N.J.-based Hertz Equipment Rental, a wholly owned subsidiary of The Hertz Corp., is No. 4 on the RER 100.
