M&A Deal Summary

Avis Budget Group Acquires Zipcar

On March 14, 2013, Avis Budget Group acquired automotive company Zipcar for 500M USD

Acquisition Highlights
  • This is Avis Budget Group’s 1st transaction in the Automotive sector.
  • This is Avis Budget Group’s 2nd largest (disclosed) transaction.
  • This is Avis Budget Group’s 3rd transaction in the United States.
  • This is Avis Budget Group’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2013-03-14
Target Zipcar
Sector Automotive
Buyer(s) Avis Budget Group
Deal Type Add-on Acquisition
Deal Value 500M USD
Advisor(s) Morgan Stanley (Financial)
Latham & Watkins (Legal)

Target

Zipcar

Cambridge, Massachusetts, United States
website
Zipcar, Inc. is a car sharing nad car club service network. It operates membership-based businesses in major metropolitan areas and college campuses in the United States, Canada and the United Kingdom.

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Buyer(S) 1

Buyer

Avis Budget Group

Parsippany, New Jersey, United States

website

Category Company
Founded 1946
Sector Consumer Services
Employees18,500
Revenue 12.0B USD (2022)
DESCRIPTION
Avis Budget Group's corporate headquarters in Parsippany, New Jersey.
Avis Budget Group's corporate headquarters in Parsippany, New Jersey.

Avis Budget Group is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis Budget Group was incorporated in 1946 and is based in Parsippany, New Jersey.

DEAL STATS #
Overall 5 of 8
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 5 of 8
State (Massachusetts) 1 of 1
Country (United States) 3 of 4
Year (2013) 1 of 2
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-24 Apex Rental Cars

Christchurch, New Zealand

Apex Rental Cars Ltd. is a provider of car rental services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-16 Payless Car Rental System

St. Petersburg, Florida, United States

Payless Car Rental System, Inc. provides car rental services.

Buy $50M
Mergr

Product

Company

Legal