Go Rentals has entered into a definitive agreement with RedBird Capital Partners for a major investment. Terms of the transaction have not been disclosed.
“Go Rentals is partnering with RedBird to embark on our next stage of growth and take our business to the next level,” said Kaye Gitibin, co-Founder and CEO at Go Rentals, in a recent news release. “RedBird is a world-class private equity investor with an exceptional record of building industry leading businesses and creating opportunities for access and expansion to adjacent luxury markets.”
Go Rentals Co-founder and President Kavous Gitibin added, “Combining Go Rentals’ best-in-class 24/7 ‘car’cierge client services, guaranteed booked rentals and premier luxury vehicle business model with RedBird’s platform expertise in a broad set of customer verticals, including private aviation, media, sports, entertainment and financial services, will enable Go Rentals to further accelerate our market opportunities.”
Go Rentals was founded in Newport Beach, California in 1995 with a fleet of seven vehicles and has grown to become a leading rental car provider within the private aviation market. The company is a leading owner and operator of high-end rental cars to sports, media and private client customers in over 175 markets nationwide.
“Go Rentals has built a strong, differentiated brand with a premium fleet and is well-positioned for significant growth across key markets in RedBird’s ecosystem,” said Andrew Lauck, partner at RedBird. “RedBird’s investment portfolio in private aviation, professional sports, entertainment and financial services gives a unique perspective on the Go Rentals’ business and its customers and distribution channels.”
As part of the agreement, the Gitibins will continue to lead Go Rentals with the current management team. Lauck and Alexander Blankfein, RedBird managing director, will join Go Rentals’ board of directors.
Main Street Advisors, a strategic investment partner of RedBird, participated in the investment in Go Rentals alongside RedBird and will be instrumental in supporting additional media and sports sector growth opportunities.