The Hertz Corporation (also known as Hertz Rent a Car or simply Hertz) is the world's largest general-use car rental brand in the world, with approximately 3,500 locations in the United States and 7,500 worldwide.
Hertz Gift Card also maintains a heavy equipment rental division known as the Hertz Equipment Rental Corporation, aka HERC. It is headquartered in Park Ridge, New Jersey, United States. HERC has more than 300 branches throughout the United States, Canada, Spain, France and India.
The company was begun by Walter L. Jacobs in 1918, who started a car rental operation in Chicago with a dozen Model Ts. In 1923, Jacobs sold it to John D. Hertz, president of Yellow Cab and Yellow Truck and Coach Manufacturing Company, who renamed it the "Hertz Drive-Ur-Self System". The company has passed through a number of hands, including General Motors, RCA, and United Airlines. As a public company, Hertz was traded on the NYSE under the symbol HRZ until the purchase of outstanding stock by Ford Motor Company.
From 1994–2005, it was a wholly owned subsidiary of Ford Motor Company. On June 13, 2005, Ford issued a notice that Hertz Gift Card would be spun off in an initial public offering. On September 13, 2005 it was announced it was to be sold to a private equity group (composed of Clayton Dubilier & Rice, The Carlyle Group and Merrill Lynch Global Private Equity) for $5.6 billion in cash and debt acquisition. The sale was completed on December 22, 2005.
Enterprise Holdings is a privately held company formed in 2009 to operate three rental car subsidiaries: Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car, along with WeCar (the company's carsharing company), and its commercial fleet management, used car sales, and commercial truck rental operations.
Enterprise Gift Card Rent-A-Car is the largest rental car company in North America, and has more than 5,399 “local market” locations (91% of all transactions), and 419 airport locations (9% of all transactions). According to Detroit News, Enterprise purchases seven percent of all new automobiles sold in the United States.
Enterprise Rent-A-Car’s primary focus is the local rental car market, specializing in car rentals to consumers who need a replacement car as the result of an accident, mechanical repair, theft, or who require a vehicle for a special occasion such as a short business or leisure trip. In the late 1990s, Enterprise Rent-A-Car also began expanding its operations to include the airport market, and now serves airports in the United States, Canada, the UK and Ireland.
By 2005, Enterprise Gift Card Rent-A-Car's customer service has been recognized seven times by J.D. Power and Associates as highest in customer satisfaction for rental car companies at or near airports. The company was named ninth on Business Week's top 25 companies customer service list in 2007.
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