PE-Backed Hertz Buying Donlen

Hertz Global Holdings (NYSE: HTZ), a PE-backed provider of car and equipment rental services, has agreed to acquire Donlen for $250 million plus the assumption of $680 million of outstanding debt. Donlen provides fleet leasing and management services for corporate fleets. Hertz is a portfolio company of The Carlyle Group, Clayton, Dubilier & Rice, North Cove Partners and W Capital Partners. Hertz is still pursuing its acquisition of Dollar Thrifty (NYSE: DTG), which is valued at over $2 billion.