Loxam Group in Acquisition of the France and Spain Businesses of Hertz Equipment Rental
October 30, 2015
Cleary Gottlieb advised the Loxam Group in its acquisition from an affiliate of Hertz Global Holdings of the entire share capital of Hertz Equipement France SAS and Hertz Alquiler de Maquinaria, SLU. The transaction closed on October 30, 2015.
LOXAM is a leading equipment rental company in Europe. The transaction increases its market share in the Paris area, the North and West of France as well as reinforces its Spanish network, strengthening thereby Loxam's positioning as a premier player in the European rental industry.
Hertz Equipment Rental Corporation is a leading North American equipment rental company. The business remains on course with plans to separate from Hertz Global Holdings and become an independent company by mid-2016.