Equipment Leasing News: Hertz (NYSE:HTZ) to Acquire Donlen Corporation in $930 Million Transaction

Equipment Leasing News: Hertz (NYSE:HTZ) to Acquire Donlen Corporation in $930 Million Transaction

VANCOUVER, BC (July 18, 2011) Dominion Lending Centres Clearlease Reports Hertz Global Holdings, Inc. (NYSE:HTZ) and Donlen Corporation announced July 17, 2011 they have signed a definitive agreement for Hertz to acquire Donlen, a leading provider of fleet leasing and management services. The transaction has been approved by the boards of directors of both companies, and by the stockholders of Donlen. The transaction is expected to be completed in the third quarter of 2011, subject to the satisfaction of customary closing conditions, including regulatory approvals.

Mark P. Frissora, the Chairman and Chief Executive Officer of Hertz, said, “The acquisition of Donlen expands our portfolio of transportation solutions by giving Hertz an immediate leadership position in long-term car, truck and equipment leasing and fleet management for corporate customers who need scale and sophisticated fleet management services. This range of solutions from a single provider will make Hertz unique among its peers.” Frissora added, “The integration of Donlen gives Hertz a yearly and multi-year offering that complements our hourly, daily and monthly car sharing and car rental options for customers, giving us a more stable revenue stream and new adjacent markets to leverage our existing business model.”

The acquisition of Donlen is consistent with the evolution of Hertz’s asset-light, technology focused business model. Donlen is primarily a vehicle financing and fleet management consulting business which deploys leading technology applications to support its customers.

Additionally, this transaction is part of the Company’s overall growth strategy to provide the most flexible transportation programs for corporate and general consumers. Donlen’s technology platform is best-in-class and scalable to enable rapid volume expansion. Together with Donlen’s existing relationships, Hertz will now be able to significantly expand its fleet management capability to Europe and other international markets. Additionally, the Donlen acquisition provides Hertz with a strategic consulting practice in asset and fleet management with an industry leading reputation for its GreenDriver(R) telematics initiative such as DriverPoint(TM), which tracks and measures driver behavior and productivity.

“We’re thrilled to be part of the Hertz global family,” said Gary Rappeport, Donlen Chief Executive Officer. “There are a number of synergies between the two businesses that will allow us to expand and accelerate Donlen’s offerings and continue our passionate focus on customer service and technology. Together, Hertz and Donlen have a unique opportunity to explore and create new and innovative products to bring to market.”

Based in Northbrook, Illinois, Donlen leases and manages more than 144,000 vehicles across the United States, Canada and Mexico. Donlen has posted consistent growth in pre-tax income since 2000, including 2008 and 2009 in the midst of the recession.

Donlen generates revenue through its high-quality, diversified lease portfolio and its fee-based fleet management and services business, which have produced consistent results throughout its history, including recessionary periods. Donlen further differentiates itself from traditional leasing companies by providing services throughout the leasing life-cycle and a variety of management and maintenance services. Donlen has distinguished itself as a technology leader in the industry, through FleetWeb(R), Donlen’s award-winning online fleet management platform that provides enhanced customer service capabilities, and CARE(TM), Donlen’s proprietary CRM system; as well as Donlen’s more than 45 years in fleet management industry experience.

Hertz is purchasing Donlen for $250 million, and will be assuming approximately $680 million of Donlen’s outstanding fleet debt. Hertz expects to refinance Donlen’s debt at improved financing terms. Hertz believes the acquisition will be credit neutral and will strengthen its business profile given Donlen’s business mix and diversified lease portfolio. This transaction is immediately accretive to Hertz’s earnings and is EVA positive in year one. Hertz has identified $20 million of synergies, primarily fleet-related.

Hertz will host a conference call on Monday, July 18, 2011 at 11:00 AM (EDT) to provide more detailed information about the Donlen transaction. Mark Frissora and Gary Rappeport, CEOs of Hertz and Donlen, respectively, will speak during the conference call. To access the conference call live, dial 800-230-1096 in the U.S. and 612-288-0340 for international callers using access code: 210683 or listen via webcast at www.hertz.com/investorrelations . The conference call will be available for replay from July 18, 2011 from 1:00 PM (EDT) until August 1, 2011 at 11:59 AM (EDT) by calling 800-475-6701 in the U.S. or 320-365-3844 for international callers with the access code: 2107683. The press release and accompanying slides will be available on our website, www.hertz.com/investorrelations .

Hertz is being advised in this transaction by Seale & Associates, Inc. and Barclays Capital and Donlen’s advisor is J.P. Morgan Securities LLC. Jenner & Block LLP is acting as mergers and acquisitions counsel to Hertz and Weil, Gotshal & Manges LLP is providing advice regarding structured finance matters. Skadden, Arps, Slate, Meagher & Flom LLP is serving as seller’s counsel on behalf of Donlen.

ABOUT HERTZ

The Hertz Corporation ( www.hertz.com ), a subsidiary of Hertz Global Holdings, Inc. HTZ -0.27% , is the world’s largest general use car rental brand, operating from approximately 8,500 locations in approximately 150 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 83 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Asia, Australia and New Zealand. In addition, the Company has licensee locations in cities and airports in Africa and the Middle East. Product and service initiatives such as Hertz #1 Club Gold(R), NeverLost(R) customized, onboard navigation systems, SIRIUS XM Satellite Radio, and unique cars and SUVs offered through the Company’s Adrenaline and Green Traveler Collections, set Hertz apart from the competition. In 2008, the Company entered the global car sharing market in London, New York City and Paris. Hertz also operates one of the world’s largest equipment rental businesses, Hertz Equipment Rental Corporation, offering a diverse line of equipment, including tools and supplies, as well as new and used equipment for sale, to customers ranging from major industrial companies to local contractors and consumers from approximately 320 branches in the United States, Canada, France, Spain, Italy, China and Saudi Arabia, as well as through its international licensees.

ABOUT DONLEN

Donlen Corporation ( www.donlen.com ), with headquarters in Northbrook, IL, offices nationwide, and strategic global partnerships, is a leading provider of innovative fleet leasing and management services for corporate fleets across the U.S., and has over 144,000 vehicles under lease and management. In 2010, Donlen generated gross billings of approximately $920 million and revenues of approximately $350 million. Since 1965, Donlen has offered its clients highly personalized and responsive customer service. Donlen’s workplace excellence has been recognized as one of Crain’s Chicago Business “List of 20 Best Places to Work in Chicago” each year from 2009-2011, a Leader on “The Global Outsourcing 100(R)” list by the International Association of Outsourcing Professionals (IAOP) in 2011 and from 2006-2009, a National Association for Business Resources “101 Best and Brightest Places to Work For in Chicago” each year from 2007-2011, the 2011 Stevie(R) Award Winner for “Corporate Environmental Responsibility Program of the Year,” and a Stevie Award Finalist as “Most Innovative Company” and “Best Use of Technology in Customer Service” in 2010.

Some of the Business Equipment Dominion Lending Centres Clearlease Finance include:

Office Fitout, Office Furniture, Oxygen Machines, PABX, Photocopiers, Plasma & Display Screens, Point of Sales POS, Printers, Retail Fitout, RFID Systems, Salon Equipment, Scanners, Security Systems, Shelving & Storage, Software, Telephone Systems, Trucks, Water Systems, Workstations, Air conditioning units, Audio Visual, Biometric Technologies, Boats, Buses, Cars, Catering Equipment, Compressors, Computers, Laptops & other IT, Display Stands, Earth moving equipment, Fax Machines, Forklifts, Gaming equipment, Generators, GPS Systems, Hospitality Fitout, Kiosks & Touch Screens, Massage Tables & Chairs, Medical & Dental, Mining Equipment, Office Equipment.

Clearlease Equipment Lease Financing, Commercial Financing Mortgage Refinance Mortgage Auto Lease, Vendor Program – Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Video Link: http://youtu.be/fROP17iUSEg

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers Alexander Pidgeon and Rene Pidgeon. Vancouver Commercial Lending,North Vancouver Commercial Lending,West Vancouver Commercial Lending,Surrey Commercial Lending,Richmond Commercial Lending,Delta Commercial Lending,Langley Commercial Lending,Coquitlam Commercial Lending,BC Commercial Lending,Private Commercial Lending

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/fROP17iUSEg

Dominion Lending Centres Clearlease are specialists in;

lease, equipment leasing, leasing, lease equipment, equipment lease Canada, equipment financing, financing, leasing companies, leases, equipment leases, lease financing, equipment lease finance, business financing, lease new, lease used, commercial equipment lease, business finance, business lease, truck lease, truck financing, auto financing, commercial vehicle lease, business financing specialist, leasing services Vancouver, BC, Alberta, lease canada, bobcat, skid steer, excavator, loader, heavy equipment,Leasing Services vancouver,British columbia,Lease Canada, Agricultural Equipment Leasing, Business Computers Leasing, Construction, Dry Cleaning Equipment Leasing, Fitness Equipment Leasing, Forestry Equipment Leasing, Industrial Equipment Leasing, Medical ,Metalworking Equipment Leasing Office Equipment Leasing,Oil & Gas Equipment Leasing,Printing Equipment Leasing Restaurant Equipment Leasing,Self Storage Equipment Leasing,Software Equipment Leasing Telecommunications Equipment Leasing,Used Equipment Leasing,Wholesale Reatil Equipment Leasing, Commercial Equipment Leasing,Industrial Equipment Leasing,Manufacturing Equipment Leasing, Commercial Solar Panel Financing, Equipment Leasing Canada, Farm Equipment Leasing,Forklift Leasing,Medical Equipment Leasing, Computer Equipment Leasing,Entertainment Equipment Leasing, Green Manufacturing Equipment Leasing,Equipment Vendor Leasing, Vendor Finance,Vendor Equipment Leasing Programs,Business Finance,Commercial Leasing,Equipment Lease Calculator,Equipment Leasing Quote, Renewable Energy Equipment Leasing,Business Equipment Lease,Mortgage Information,Credit Line,Residential Mortgage, Commercial Lending,Commercial Mortgage,Commercial Mortgage Lending, Refinance,Sale Leaseback, DLC Clearlease,Using a Mortgage Profesional,Benefits,Cost,Home Purchase,Buying a Home, Home Purchase calculators,Current Mortgage Rates,How to Apply for a Mortgage, Refinance your Current Mortgage,Mortgage Renewal,Home Equity,Mortgage Life Insurance, Commercial Mortgage Financing,Canada,BC,ALTA,British Columbia,Alberta, Vancouver, BC Lower Mainland, Mortgage Broker,Rates,Calculator,Dominion Lending Centres,Clearlease, Mortgage Financing,BC Home Mortgages,Best Mortgage Rates,Financial Services,First Time Home Buyer, Refinance,ALTA Home Mortgages,West Vancouver,North Vancouver,Downtown,Metro Vancouver,Lower Mainland, Yaletown,Coal Harbour,Equipment Leasing Calculator,Free Mortgage Calculators, Refinance Bad Credit,refinance with bad credit, bad credit mortgage refinance Vancouver,Mortgage Brokers Bad Credit BC, mortgage brokers bad credit, best mortgage rates, canada mortgages,canada mortgage,lowest rate, mortgages canada,lowest mortgage rates,canadian mortgages,canada mortgage rates,best canadian mortgages

Construction Equipment Leasing Company, Machinery, Manufacturing, Medical Equipment Leasing,commercial equipment leasing, equipment leasing for businesses, equipment finance, capital equipment leasing, business financing, business leasing, financing equipment, leasing equipment, capital equipment leasing business, financing business leasing, equipment leasing for businesses, debt consolidation, project development, working capital, financing on presently owned equipment, sale leaseback, equipment leasing company, construction equipment financing, machinery equipment financing , manufacturing equipment financing, medical equipment financing, technology equipment financing, transportation equipment financing, construction equipment leasing, machinery equipment leasing, manufacturing equipment leasing, medical equipment leasing, technology equipment leasing, transportation, aircraft equipment leasing, aircraft equipment financing, vendor financing, leasing company, commercial loans, equipment collateral, sale lease-back, leaseback, commercial equipment leasing, equipment leasing for businesses, equipment finance, capital equipment leasing, business financing, business leasing, financing equipment, leasing equipment, capital equipment leasing business, financing business leasing, equipment leasing for businesses, debt consolidation, project development, working capital

Alberta, Airdrie, Brooks, Calgary, Camrose, Cold Lake, Edmonton, Fort Saskatchewan, Grande Prairie, Lacombe, Leduc, Lethbridge, Lloydminster, Saskatchewan, Medicine Hat, Red Deer, Spruce Grove, St. Albert, Wetaskiwin, British Columbia, Abbotsford, Armstrong, Burnaby, Campbell River, Castlegar, Chilliwack, Colwood, Coquitlam, Courtenay, Cranbrook, Dawson Creek, Duncan, Enderby, Fernie, Fort St. John, Grand Forks, Greenwood, Kamloops, Kelowna, Kimberley, Kitimat, Langford, Langley, Merritt, Nanaimo, Nelson, New Westminster, Metro Vancouver, North Vancouver, Parksville, Penticton, Pitt Meadows, Port Albern, Port Coquitlam, Vancouver, Port Moody, Powell River, Prince George, Prince Rupert, Quesnel, Revelstoke, Richmond, Vancouver, Rossland, Salmon Arm, Surrey, Terrace, Trail, Vancouver, Vernon, Victoria, White Rock, Williams Lake, Manitoba, Brandon, Dauphin, Flin Flon, Portage la Prairie, Selkirk, Steinbach, Thompson, Winkler, Winnipeg, New Brunswick, Bathurst, Campbellton, Dieppe, Edmundston, Fredericton, Brunswick, Miramichi, Moncton, Saint John, Barrie, Belleville, Brampton, Brant, Brantford, Brockville, Burlington, Cambridge, Clarence-Rockland, Cornwall, Dryden, Elliot Lake, Greater Sudbury, Guelph, Haldimand, Hamilton, Kawartha Lakes, Kenora, Kingston, Kitchener, London, Mississauga, Niagara Falls, Norfolk County, North Bay, Orillia, Oshawa, Ottawa, Owen Sound, Pembroke, Peterborough, Pickering, Prince Edward, Port Colborne, Niagara, Quinte West, Sarnia, Sault Ste. Marie, St. Catharines, St. Thomas, Stratford, Temiskaming Shores, Thorold, Thunder, Timmins, Toronto, Vaughan, Waterloo, Welland, Horseshoe, Windsor, Woodstock, Quebec, Acton Vale, Alma, Amos, Amqui, L’Ancienne-Lorette, Asbestos, L’Assomption, Baie-Comeau, Côte-Nord, Baie-d’Urfé, Baie-Saint-Paul, Barkmere, Beaconsfield, Beauceville, Beauharnois, Beauharnois-Salaberry, Beaupré, Beaupré, , Bécancour, Bedford, Belleterre, Belœil, Berthierville, Blainville, Bois-des-Filion, Boisbriand, Blainville, Bonaventure, Boucherville, Brome Lake (Lac-Brome), Bromont, Brossard, Brownsburg-Chatham, Cabano, Candiac, Cap-Chat, Cap-Santé, Carignan, Carleton-sur-Mer, Causapscal, Chambly, Chandler, Chapais, Charlemagne, Châteauguay, Château-Richer, Chibougamau, Clermont, Charlevoix-Est, Coaticook, Contrecoeur, Cookshire-Eaton, Côte-Saint-Luc, Cowansville, Danville, Daveluyville, Dégelis, Delson, Desbiens, Deux-Montagnes, Disraeli, Dolbeau-Mistassini, Dollard-des-Ormeaux, Donnacona, Dorval, Drummondville, Dunham, Duparquet, East Angus, L’Épiphanie, Estérel, Farnham, Fermont, Forestville, Fossambault-sur-le-Lac, Gaspé, Gatineau, Gracefield, Granby, Grande-Rivière, Hampstead, Hudson, Huntingdon, Laurent, L’Île-Cadieux, L’Île-Dorval, L’Île-Perrot, Joliette, Kingsey Falls, Kirkland, Lac-Delage, Lac-Mégantic, Lac-Saint-Joseph, Lac-Sergent, Lachute, Laval, Lavaltrie, Lebel-sur-Quévillon, Léry, Lévis, Longueuil, Lorraine, Louiseville, Macamic, Magog, Malartic, Maniwaki, Marieville, Mascouche, Matagami, Matane, Madeleine, Mercier, Montérégie, Métabetchouan–Lac-à-la-Croix, Métis-sur-Mer, Mirabel, Mont-Joli, Mont-Laurier, Mont-Saint-Hilaire, Mont-Tremblant, Montmagny, Montreal, Montréal-Est, Montreal West, Mount Royal, Murdochville, Neuville, Nationale, New Richmond, Nicolet, Nicolet-Yamaska, Normandin, Notre-Dame-de-l’Île-Perrot, Notre-Dame-des-Prairies, Notre-Dame-du-Lac, Otterburn Park, Paspébiac, Percé, Pincourt, Plessisville, La Pocatière, Pohénégamook, Pointe-Claire, Pont-Rouge, Port-Cartier, Portneuf, La Prairie, Princeville, Prévost, Quebec City, Repentigny, Richelieu, Richmond, Rimouski, Rivière-du-Loup, Rivière-Rouge, Roberval, Rosemère , Rouyn-Noranda, Saguenay, Sainte-Adèle, Sainte-Agathe-des-Monts, Sainte-Anne-de-Beaupré, Sainte-Anne-de-Bellevue, Sainte-Anne-des-Monts, Sainte-Anne-des-Plaines, Saint-Augustin-de-Desmaures, Saint-Basile, Saint-Basile-le-Grand, Saint-Bruno-de-Montarville, Sainte-Catherine, Sainte-Catherine-de-la-Jacques-Cartier, Saint-Césaire, Saint-Constant, Saint-Eustache, Saint-Félicien, Saint-Gabriel, Saint-Georges, Saint-Hyacinthe, Saint-Jean-sur-Richelieu, Saint-Jérôme, Saint-Joseph-de-Beauce, Saint-Joseph-de-Sorel, Sainte-Julie, Saint-Lambert, Saint-Lazare, Saint-Lin-Laurentides, Saint-Marc-des-Carrières, Sainte-Marguerite-du-Lac-Masson, Sainte-Marie, Sainte-Marthe-sur-le-Lac, Saint-Ours, Saint-Pamphile, Saint-Pascal, Saint-Pie, Saint-Raymond, Saint-Rémi, Saint-Sauveur, Sainte-Thérèse, Saint-Tite, Salaberry-de-Valleyfield, La Sarre, Schefferville, Scotstown, Senneterre, Sept-Îles, Shawinigan, Sherbrooke, Sorel-Tracy, Stanstead, Sutton, Témiscaming, Terrebonne, Thetford Mines, Thurso, Trois-Rivières, La Tuque , Val-d’Or, Valcourt, Varennes, Vaudreuil-Dorion, Victoriaville, Ville-Marie, Warwick, Waterloo, Waterville, Westmount, Windsor, Saskatchewan, Estevan, Flin Flon, Humboldt, Lloydminster, Martensville, Meadow Lake, Melfort, Melville, Moose Jaw, North Battleford, Prince Albert , Regina, Saskatchewan, Saskatoon, Swift Current, Weyburn, Yorkton



Site Map | Privacy Policy | XML Sitemap | Terms of Use | Equipment Lease Financing RSS Feed

© Copyright 2015 - Clearlease.com - Independently Owned & Operated
All trademarks are the property of their respective owners. All Rights Reserved.
This is not a commitment to lend. Home mortgages are subject to underwriting review and approval. This is a free no obligation service.
Yahoo®, Google®, Bing ® are trademarks of their respective owners.
REALTOR® -- A Registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.
The MLS® is a Trademark of Multiple Listing Service, Inc.
All Commercial Mortgage and Residential Mortgage Loan Applications are processed by Dominion Lending Centres Commercial Capital Inc.
DLC® is a Trademark of Dominion Lending Centres, Inc.
All Automobile Loan & Lease Applications are funded by the Funder.
No part of this content, data or information included herein may be reproduced, republished or redistributed.


Vancouver Mortgage Leads - Residential Mortgage Leads Venacouver - FREE Mortgage Quote Vancouver
Vancouver Mortgage Leads - Residential Mortgage Leads Venacouver - FREE Mortgage Quote VancouverVancouver Mortgage Leads - Residential Mortgage Leads Venacouver - FREE Mortgage Quote VancouverVancouver Mortgage Leads - Residential Mortgage Leads Venacouver - FREE Mortgage Quote Vancouver