Press Release Hertz - Donlen
PARK RIDGE, NEW JERSEY - Seale & Associates, Inc. announced that it acted as financial advisor to The Hertz Corporation ("Hertz") on the acquisition of Donlen Corporation ("Donlen"), a leading provider of vehicle fleet leasing and management services. Hertz purchased Donlen for $947 million including the assumption of approximately $770 million of Donlen's outstanding fleet debt. The transaction closed on September 1, 2011.
Hertz, a subsidiary of Hertz Global Holdings, Inc. (NYSE: HTZ), 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. In 2008, Hertz 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, from approximately 320 branches in the United States, Canada, France, Spain, Italy, China and Saudi Arabia, as well as through its international licensees. In 2010, Hertz Global Holdings generated revenues of approximately $7.6 billion.
Donlen, 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.
Seale & Associates, Inc., headquartered in Arlington, Virginia, is a global investment banking firm with extensive experience in mergers and acquisitions, corporate finance advisory, and enterprise level strategy consulting. Our professionals are trusted advisors maintaining a high level of quality and integrity while presenting innovative ideas and solutions to address our clients' most complex dealings.