Hertz 2011 Annual Report Download - page 12

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Equipment Rental
GROWTH
Hertz Equipment Rental Corporation
(HERC) continued to recover from the
worst recession in its 46-year history,
achieving four consecutive quarters of
double-digit revenue growth in 2011.
HERC more than doubled the equip-
ment rental market growth in North
America, despite a non-residential
construction industry in the U.S.
which has not rebounded from the
recession. How was HERC able to
overcome these significant hurdles?
HERC continued to diversify by becom-
ing a bigger player in the industrial
segment, especially oil & gas develop-
ment. We continued to enjoy strong
organic growth as the leading equip-
ment rental provider in the rapidly
developing Northern Canadian oil &
gas fields. We secured more large
account business in the U.S. market
through our acqui sitions of WGI
Rentals in North Dakota and Delta
Rigging & Tools’ offshore equipment
rental division in Louisiana. We have
established a strong presence in a
business poised for robust growth for
many years to come. The oil & gas
business generated approximately
15% of total North American reve-
nues in 2011.
HERC also increased its positive pres-
ence in the lucrative pump & power
business, which thrives on a combina-
tion of planned events and projects and
natural disaster response. The pump
& power business serves a wide array
of market niches including entertain-
ment, facility maintenance as well as
oil & gas. We purchased DW Pumps in
2011, to strengthen our position on
the West Coast. Total revenues from
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