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Enterprise to Acquire Canadian Car Renter Discount Car and Truck Rentals
Friday 06 December 2019

6 December 2019 - US-based car rental company Enterprise Holdings Inc and Canadian car and truck rental company Discount Car and Truck Rentals Ltd have signed an agreement in which Enterprise Holdings' Canadian subsidiary will acquire Discount Car and Truck Rentals, the companies said.

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 rich 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 neighbourhood 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.

Enterprise Holdings through its integrated global network of independent regional subsidiaries and franchises operates its brands at more than 10,000 fully staffed neighborhood and airport locations. Enterprise Holdings has been providing excellent customer service in the Canadian market since 1993.

Founded in 1980 and headquartered in Toronto, Discount Car and Truck Rentals is a nationally recognized brand operating off-airport and neighbourhood rental locations in Canada.

With over 300 neighbourhood branch offices located within 15 minutes from 90% of the Canadian population, Discount Car and Truck Rentals is known for renting cars and trucks of all makes and models, from economy cars to luxury brands; and cargo vans to 5-ton trucks.

Its commitment to quality and superior customer service is unmatched in the Canadian rental industry. Discount Car and Truck Rentals is proud to have originated picking up and dropping off its clients at no extra cost.

In 2010, Discount Car and Truck Rentals was named one of Canada's 10 Most Admired Corporate Cultures; was a Platinum award winner for 2011 and 2012 and was named one of Canada's 10 Most Admired Corporate Cultures again in 2013. Discount Car and Truck Rentals has also won the Consumer's Choice Award for Business Excellence for 14 consecutive years.

Osler, Hoskin and Harcourt LLP and Freshfields Bruckhaus Deringer LLP acted as legal advisors to Enterprise.

KPMG Corporate Finance Inc. acted as financial advisor to Discount, and Stikeman Elliott LLP and Kaufman LLP acted as legal advisors to Discount.
Date Published: 06/12/2019
Target: Discount Car and Truck Rentals Ltd
Country: Canada
Sector: Motor Vehicles
Type: Corporate acquisition
Status: Agreed
Buyer: Enterprise Holdings Inc
Buyer Advisor: Osler, Hoskin and Harcourt , Freshfields Bruckhaus Deringer
Terms of the deal were not disclosed