Fox Rent A Car Raises $25M in Funding

Logo courtesy of Fox Rent A Car
Logo courtesy of Fox Rent A Car

NewSpring Capital, a family of private equity funds providing growth and expansion capital, has led a $25 million investment in Fox Rent A Car Inc. in partnership with Kemper Corp. and Star Mountain Capital.

Proceeds from the transaction will be used to help refinance Fox’s existing debt.

Headquartered in Los Angeles, Fox maintains a fleet of over 16,000 vehicles at 19 locations across eight states. All locations are either within airports or near airports.

“Possessing a strong and defensible market position, Fox is currently in seven of the top 10 airports in terms of rental revenue,” said Anne Vazquez, NewSpring Partner. “Backed by a veteran management team, all with proven experience in the industry, this company is well-positioned for continued growth.”

“We look forward to working with Anne and the team at NewSpring as we continue to provide value and superior service to our customers,” said Allen Rezapour, co-founder of Fox. “NewSpring’s long term approach provides Fox with the flexibility we need to execute on new and exciting opportunities.”

Comments

  1. Michael K Kabela [ October 7, 2017 @ 04:32PM ]

    They took $25 million in Loan Refinancing in July 24 . They want us to start making payment for them. That explain why; number will continue to be...Increase so low payout will be the new norm or no pay out.

  2. Michael Kabela [ October 11, 2017 @ 05:07PM ]

    Mike

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

The Problem with Valuing Safety Technology

As advanced safety technologies have migrated to mainstream vehicles, retaining value for these options at resale remains an issue.

ELD Mandate: Is Your Head Still in the Sand?

If you think you have 11 weeks to implement an Electronic Logging Device system to meet the Dec. 18 compliance deadline, you really don’t — for a few reasons.

Who Controls Your Vehicles’ Data?

In the name of security, an automaker’s alliance is advocating denial of third-party access to the OBD-II port. Is this going too far?

Job Finder: Access Top Talent. Fill Key Positions.

>