M&A Deal Summary

Hertz Acquires Dollar Thrifty Automotive Group

On April 26, 2010, Hertz acquired consumer services company Dollar Thrifty Automotive Group for 2.6B USD

Acquisition Highlights
  • This is Hertz’s 1st transaction in the Consumer Services sector.
  • This is Hertz’s largest (disclosed) transaction.
  • This is Hertz’s 2nd transaction in the United States.
  • This is Hertz’s 1st transaction in Oklahoma.

M&A Deal Summary
Date 2010-04-26
Target Dollar Thrifty Automotive Group
Sector Consumer Services
Buyer(s) Hertz
Deal Type Add-on Acquisition
Deal Value 2.6B USD
Advisor(s) Goldman Sachs
J.P. Morgan Securities (Financial)
Cleary Gottlieb Steen & Hamilton (Legal)

Target

Dollar Thrifty Automotive Group

Tulsa, Oklahoma, United States
Dollar Thrifty Automotive Group, Inc. is a provider of car rental services. Dollar and Thrifty have approximately 280 corporate locations in the United States and Canada, with approximately 5,800 employees located mainly in North America. In addition to its corporate operations, the Company maintains global service capabilities through an expansive franchise network of approximately 1,300 franchise locations in 82 countries.

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Buyer(S) 1

Buyer

Hertz

Estero, Florida, United States
Category Company
Founded 1918
Sector Consumer Services
Employees27,000
Revenue 9.4B USD (2023)
DESCRIPTION
Entrance to Hertz's corporate headquarters in Estero, Florida.
Entrance to Hertz's corporate headquarters in Estero, Florida.

Hertz operates car rental businesses through the Hertz, Dollar, Thrifty and Firefly brands. Hertz Global operates through corporate and franchisee locations and services the North American, European, Latin and South American, Asian, Australian, African, and Middle Eastern markets. In addition to its car rental business, Hertz provides fleet leasing and management services through its Donlen subsidiary. Hertz was originally established in 1918 and is based in Estero, Florida.

DEAL STATS #
Overall 2 of 3
Sector (Consumer Services) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Oklahoma) 1 of 1
Country (United States) 2 of 3
Year (2010) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-31 Advantage Rent A Car

Ridgeland, Mississippi, United States

Advantage Rent A Car is a rental car company and operates at 44 locations across the United States. The new Advantage features one of the industry’s youngest, most diverse rental car fleets. The company also recently launched new growth initiatives including a business customer program, Advantage for Business, which offers a flat pricing structure and other perks for frequent business travelers.

Buy $33M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-17 Donlen

Bannockburn, Illinois, United States

Donlen develops innovative fleet management technology solutions and offers a proactive, hands-on approach to customer service. For more than 55 years, Donlen has empowered its customers to focus on their core business and drive continuous improvement in their fleet's operational and financial performance. Donlen was formed in 1965 and is headquartered in Bannockburn, Illinois.

Buy $947M
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