Who Owns Hertz Car Rental? A Look at the Ownership and History

• 1- The History of Hertz Car Rental
• 2- Evolution of Hertz Ownership
• 3- The Acquisition of Hertz by New Owners
• 4- Who Owns Hertz Today?
• 5- The Future of Hertz and Its Place in the Market

1- The History of Hertz Car Rental

Hertz Car Rental, one of the most well-known names in the car rental industry, was founded in 1918 by Walter L. Jacobs in Chicago, Illinois. Initially, the company began with just a small fleet of vehicles, and by 1923, Jacobs sold the business to John D. Hertz, who expanded it rapidly. Under the leadership of John D. Hertz, the company grew into a major force in the car rental market, reaching national and eventually global recognition. Over the years, Hertz became synonymous with reliable, quality car rentals, making it one of the most iconic brands in travel and transportation.

2- Evolution of Hertz Ownership

For much of its history, Hertz remained a privately-owned company, operating under the leadership of the Hertz family. However, in 1967, it went public, and for several decades, it operated as a publicly traded company listed on the New York Stock Exchange. This move allowed Hertz to expand its presence globally, with thousands of locations across numerous countries. Over the years, Hertz went through several ownership changes, mergers, and acquisitions that shaped its current structure.

3- The Acquisition of Hertz by New Owners

In the 1980s and 1990s, Hertz underwent several major acquisitions, most notably its purchase by Ford Motor Company in 1987. This partnership allowed Hertz to have access to Ford's large inventory of vehicles, providing the company with a significant advantage in the rental market. Ford retained control of Hertz for more than 20 years, but in 2005, Hertz became an independent company once again after being spun off as a separate entity.

In 2012, the company was acquired by the private equity firms Clayton, Dubilier & Rice (CD&R) in a deal valued at around $15 billion. This acquisition allowed CD&R to restructure Hertz’s operations, including efforts to modernize its fleet and improve customer service. The company also undertook significant efforts to modernize its technology and integrate online booking systems, making it easier for consumers to rent vehicles from Hertz's extensive network.

4- Who Owns Hertz Today?

As of today, Hertz Global Holdings is owned by a combination of private equity investors and public shareholders. The company has undergone a series of ownership changes, but it remains one of the leading car rental companies worldwide. Following its bankruptcy filing in 2020 due to the impacts of the COVID-19 pandemic, Hertz has been restructured under new leadership and ownership. The company emerged from bankruptcy in 2021 with significant backing from private equity firms like Apollo Global Management.

Currently, Apollo Global Management, a global investment firm, is one of the largest stakeholders in Hertz. The company operates with a mix of private equity backing and publicly traded shares, with continued efforts to modernize its fleet and digital infrastructure. While the company continues to focus on expanding its presence in the car rental market, the impact of its new ownership structure is still unfolding as it adapts to changing travel trends and the evolving transportation market.

5- The Future of Hertz and Its Place in the Market

As the car rental industry continues to evolve with the growth of ride-sharing services and alternative transportation options, Hertz faces intense competition from companies like Enterprise, Avis, and newer players in the market. The company is investing heavily in electric vehicles and digital services, aiming to remain competitive as the transportation landscape changes.

Hertz’s future depends on its ability to adapt to consumer demands for more eco-friendly options, digital conveniences, and seamless travel experiences. The company has already started to implement electric vehicle (EV) fleets and expand its offerings to include premium services like car subscriptions and contactless rentals. The future looks promising, but how well Hertz navigates its transition into the next era of car rental and mobility services will determine its continued success.

Conclusion

Hertz Car Rental, with its long and storied history, has been shaped by many owners and investors over the years. From its humble beginnings as a small car rental operation to its global reach as a leader in the industry, Hertz has continually adapted to changing market dynamics. Today, the company is owned by a combination of private equity firms and public investors, with the backing of Apollo Global Management playing a significant role in its ongoing transformation. Whether you're a regular traveler or someone just looking for a reliable rental car, Hertz remains a trusted name in the industry.

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