HERC acquires Oklahoma-based Pioneer Rentals

Hertz Equipment Rental Corporation (HERC) has acquired Pioneer Equipment Rental and Sales, a rental company based in Oklahoma, US, that has annual revenues of around US$25 million.

Pioneer was founded in 1998 by Larry Redwine and his son John and operates from 11 rental locations in Oklahoma, Southern Kansas and Northern Texas. It was ranked number 82 in RER magazine’s most recent list of the largest 100 rental companies in North America.

The acquisition will give HERC 12 locations in Oklahoma, and increase its penetration in the industrial sector, particularly the oil and gas market.

"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, Hertzchairman and chief executive officer.

"Pioneer gives HERC an even larger footprint in the Oklahomaequipment rental market and access to a broader range of contractor and industrial business.”

John Redwine, president of Pioneer Rental, who will be joining Hertz, said; “Hertz has been a strong player in this area and around the country for a long time. I'm convinced that both theHertzand Pioneer customers will greatly benefit with the expanded footprint and services that will be available to meet their equipment needs."