Deloitte Corporate Finance LLC Advises The Hertz Corporation in Corporate Divestiture to Localiza Rent a Car S.A.
CHICAGO, Nov. 22, 2017 — Deloitte Corporate Finance LLC acted as the exclusive financial advisor to Florida-based The Hertz Corporation (Hertz), a leading vehicle rental and leasing business, in the divestiture of the Company’s Brazil operations to Localiza Rent a Car S.A. (Localiza), the largest car rental network in South America. The acquisition closed in August 2017.
Localiza acquired Hertz’s subsidiary in Brazil, and the parties established a global, long-term relationship through brand cooperation and referral agreements. As part of its engagement with Hertz, Deloitte Corporate Finance LLC (US) engaged Deloitte Corporate Finance professionals in Brazil to offer local markets knowledge and to help facilitate the transaction.
“After years of extending the Hertz brand into the Latin American market, Hertz’s Brazilian assets will be a tremendous addition to Localiza’s car rental network,” said Will Frame, managing director, Deloitte Corporate Finance LLC.
Reinaldo Grasson Oliveira, partner, Deloitte Financial Advisory Services, Brazil, added, “With the addition of Hertz’s rental car fleet, Localiza is well-positioned to further capture market share in Brazil.”
Headquartered in Estero, FL and founded in 1918, The Hertz Corporation rents cars, vans, crossovers, and light trucks under the Hertz, Dollar and Thrifty brands from company-owned, licensee, and franchisee locations in the United States, Africa, Asia, Australia, Canada, The Caribbean, Europe, Latin America, the Middle East, and New Zealand. The Hertz Corporation engages in the vehicle rental and leasing business. It operates through three segments: U.S. Rental Car, International Rental Car, and All Other Operations segments. It also offers vehicle leasing and fleet management services, including vehicle financing, acquisition, and remarketing; license, title, and registration; maintenance consultation; fuel management; accident management; toll management; telematics-based location, driver performance, and scorecard reporting; and lease financing services to commercial fleets. The Hertz Corporation is a subsidiary of Rental Car Intermediate Holdings, LLC. For further information please visit ir.hertz.com.
Headquartered in Belo Horizonte, Brazil and founded in 1973, Localiza Rent a Car S.A. engages in car rental and fleet management activities. It is also involved in fleet rental and franchising activities, and sells used cars. Localiza is the largest car rental network in South America, with 579 branches in seven countries and a fleet of more than 137,607 thousand cars. It is a reference in excellent customer service and recognized by numerous awards in its category. Localiza operates in the cities and airports in Brazil, Argentina, Bolivia, Chile, Colombia, Ecuador, Paraguay, Peru, and Uruguay. The company serves individuals, corporations, and insurance companies. For further information visit www.localiza.com.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC provides strategic advisory services and M&A advice that help corporate, entrepreneurial, and private equity clients create and act upon opportunities for liquidity, growth and long-term advantage. With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. Deloitte Corporate Finance, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. For more information, visit www.investmentbanking.deloitte.com.
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