Tagged Mergers & Acquisitions

SnappCar, Europcar Launch Drive & Share Solution

After a first successful pilot phase in France, Drive & Share solution is launching in Germany and Denmark, with Europcar Group as a significant investor.

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Sixt Signs Agreement to Sell DriveNow to BMW

Sixt has signed an agreement with BMW Group on the sale of its entire stake of DriveNow.

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Daimler, BMW Reportedly Merging Car-Sharing Services

The merger is likely an effort by the German brands to compete with U.S.-based ride-hailing services such as Uber and Lyft.

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Verizon Telematics Expands Offerings

Verizon Telematics has become the largest provider of built-in telematics and mobile applications for commercial vehicles and has moved closer to rebranding its product offerings for its customers, CEO Andrés Irlando told an audience gathered at the annual Latitude conference.

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Enterprise Acquires German-Based CARO Autovermietung

Enterprise Rent-A-Car Germany has announced the signing of an agreement to acquire CARO Autovermietung GmbH. The combined business will have more than 200 locations and a fleet of appoximately 17,000 vehicles.

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Vehicle Logistics Firms MetroGistics, AmeriFleet to Merge

The merger will consolidate the fleet-related services of both companies with the goal of targeting new markets and service lines.

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Avis Budget Completes Acquisition of France Cars

Avis Budget Group Inc. has completed its previously announced acquisition of France Cars, expanding the company's presence in the French vehicle rental market.

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Avis Budget Group to Acquire France Cars

Avis Budget Group has agreed to purchase France Cars, a privately-held vehicle rental company based in France. The acquisition will add more than 60 locations to Avis Budget’s rental network.

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How Car Rental Companies Are Not Like Airlines

The comparison comes up regarding consolidation and its ability to improve pricing — but it’s not apples to apples.

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GM to Acquire Autonomous Vehicle Tech Firm

Cruise Automation, based in San Francisco, will operate as an independent unit within GM’s recently formed autonomous vehicle development team.

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Union Leasing Closes Walser Fleet Acquisition

Union Leasing has closed its acquisition of Walser Leasing and Fleet Services, which will grow the company's fleet leasing asset portfolio by 16%, according to the parent holding company.

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Union Leasing Acquires Walser Leasing and Fleet Services

The sale did not include Walser Specialized Services, which provides acquisition services to car rental companies and commercial fleets.

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Element to Acquire GE Capital's Fleet Business

Toronto-based Element Financial Corp. has entered an agreement with General Electric to acquire GE Capital's fleet business in the U.S., Mexico, Australia and New Zealand for $6.9 billion.

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Advantage Placed Under Bankruptcy Protection

Advantage Rent A Car will be placed in Chapter 11 bankruptcy Tuesday, after its new owners logged huge auction losses and questioned the book value of 24,000 vehicles acquired from Hertz last year.

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FSNA Completes More Hertz Concession Acquisitions

FSNA opened new rental locations at Pittsburgh International Airport and Hilo International as in-terminal operations, and has also moved pre-existing off-airport operations at Raleigh-Durham International Airport and Charlotte Douglas International Airport to in-terminal operations.

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Avis Budget Group Completes Acquisition of Zipcar

Zipcar adds its 775,000 members worldwide to Avis Budget Group's network of more than 10,000 rental locations available globally from Avis and Budget.

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Avis Budget Group Completes Funding, UK Clearance for Zipcar Acquisition

After announcing the completion of $525 million in debt financing and receiving regulatory clearance in the UK, Avis and Zipcar expect to close the merger during the week of March 11.

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Zipcar Stockholders Approve Acquisition by Avis Budget Group

Avis Budget Group and Zipcar announced on March 7 that Zipcar stockholders voted to approve the adoption of the merger agreement with Avis Budget Group.

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FSNA Completes Acquisition of Additional Hertz Concessions

As part of Hertz's divestiture of the Advantage brand to Franchise Services of North America (FSNA), this is one of the scheduled acquisitions of additional on- and off-airport locations.

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Avis Budget Group to Acquire Zipcar

The total transaction is valued at approximately $500 million and is expected to be completed in the spring of this year.

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

6 Takeaways from the 2018 International Car Rental Show

Technological solutions are finally moving from reality to theory, peer-to-peer platforms are being redefined, China has the biggest room for growth, while Sixt’s U.S. aspirations have only just begun.

The Irony of Customer Service in the Digital Age

Sure, any company would jump at the chance to use technology to reduce labor costs. But it also comes with some big, red, flashing warning lights.

Market Forces Driving Car Rental in 2018

An analysis of the conference calls of Avis Budget Group and Hertz Global Holdings reveal trends and initiatives involving fleet right sizing, pricing, ancillary revenue opportunities, and renting to ride-hailing drivers.

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