Enterprise Holdings has acquired vRide, a vanpooling company that has been serving U.S. commuters for almost 40 years.

Enterprise Holdings purchased vRide from TPG Growth; financial terms of the transaction were not disclosed, according to the company.

“Local transportation infrastructure and urban mobility options have become much more complex, diverse, and competitive in the current marketplace,” said Ryan Johnson, vice president of Enterprise CarShare, Rideshare, and Zimride. “As a result, we look forward to combining our complementary assets and further advancing vRide’s expertise, ride-sharing platform, and brand recognition, all of which will benefit American commuters and consumers for the long term.”

Ann Fandozzi, chairman of vRide, agrees that Enterprise and vRide not only share common values, but they also share a core commitment to accessible, reliable, and transparent transportation options.

“Partnering with Enterprise offers vRide an opportunity to develop and expand vanpooling and ride-sharing in ways that can make a significant difference to consumers,” said Fandozzi.

“This strategic acquisition also provides the vRide staff additional opportunities within their current roles and even within Enterprise down the road,” said Johnson, “which is very exciting for them as we move forward with this transition.”