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.”

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

Safety Tech: Crash Avoidance or Sensory Overload?

As advanced safety technologies become even more pervasive on mainstream vehicles, are we creating “stupid drivers?"

Own the Fleet, Own the Future

In the dialogue surrounding new transportation paradigms, fleets have been off the public radar until recently. Here’s what’s going on, and a way for you to participate in the conversation.

Car Rental Rates Up, Fleet Sales Down — Correlation?

Car rental companies’ recent fleet discipline is needed now more than ever.

Job Finder: Access Top Talent. Fill Key Positions.

>