Enterprise Holdings and Discount Car and Truck Rentals have signed an agreement in which Enterprise Holdings' Canadian subsidiary will acquire Discount Car and Truck Rentals, a leading Canadian car and truck rental company serving customers across Canada. This includes all corporate-owned locations and the Quebec licensee's daily rental businesses.

The combination will bring together the complementary strengths of two family-owned and privately held companies with a legacy of delivering superior customer service. The transaction will create growth by combining complementary networks and service offerings, talented workforces, as well as the expertise of both companies, resulting in a broader offering of services at additional locations with a focus on enhanced mobility offerings.

Enterprise Holdings operates more than 600 airport and neighborhood locations in Canada through a network of independent regional subsidiaries. The merged entity with Discount — which has over 300 locations across Canada — will offer customers a larger and more accessible fleet across the country.

The acquisition is subject to satisfaction of customary closing conditions. Until closing, both companies will continue to operate independently and conduct business as usual.

Osler, Hoskin & Harcourt LLP and Freshfields Bruckhaus Deringer LLP acted as legal advisors to Enterprise. KPMG Corporate Finance LLC acted as financial advisor to Discount, and Stikeman Elliott LLP and Kaufman LLP acted as legal advisors to Discount.