A private investment company has acquired the Advantage Rent-A-Car brand, a move the company hopes will help expand the brand's presence in the rental car industry.
ARC Venture Holding Inc. bought the San Antonio, Texas-based brand from holding company Walker Resources Inc. Financial terms of the deal were not disclosed, but the acquisition included all of Advantage's fleet, retail assets and trademarks.
ARC's investors include Rosedale Leasing Inc., which has been a fleet service provider for Advantage and others in the car rental industry. Within the next 60 days, Advantage plans to completely replace its fleet with new vehicles from the DaimlerChrysler and GM lines. As a part of the infusion of capital from the acquisition, Advantage—the smallest of the major car rental brands—also plans to become a bigger force in the market.
"We're looking at all opportunities to magnify the footprint of Advantage," said Barbara Jerich, Advantage's chief of staff. "There will be a growth plan in place."
BTN's 2005 Business Travel Survey
(BTN, May 30, 2005) reported that Advantage had 289 total locations, 150 in the United States. About 35 percent of its revenue came from business travel.
Walker Resources, meanwhile, plans to concentrate on growing its Texas ground transportation company, Star Shuttle and Charter Inc.