Hertz still acquiring lightweight tool firms
By Industrial Distribution Staff -- Industrial Distribution, 9/1/1999
PARK RDIGE, N.J.--Mention the name Hertz, and you automatically think rentals. And while rentals continue to be a huge part of the firm's business, Hertz Corp. continues to make a strong move into the light equipment sales arena. The firm announced on July 30 that it was acquiring Quality Equipment Co., a Nebraska-based light construction equipment rental and sales company. Quality Equipment had 1998 sales of $5 million, 70 percent of which came from tool sales. No price was disclosed for the cash purchase."They are changing their philosophy a little bit," said Quality Equipment owner Ty Borman, who will now function as an area manager for Hertz. "They want to be a one-stop shop for the contractor and for industrial users, and they want to have all the industrial supplies [users] need."
Borman said his firm had several suitors, but chose Hertz because it is committed to the contractor industry and has been active on the acquisition front. Late last year Hertz purchased Philips Day & Maddock and Contractors Supply Co., both well-known names in the business.
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