Enterprise Rent-A-Car To Aquire Vanguard Car Rental

[FailingEnterpriseAdmin]

From Auto Rental News:

Enterprise Rent-A-Car to Acquire Vanguard Car Rental

March 30, 2007

ST. LOUIS – Enterprise Rent-A-Car announced it has entered into a definitive agreement to purchase Vanguard Car Rental Group Inc. The transaction between two privately held companies is expected to close in the third or fourth quarter of 2007, contingent upon clearance under the Hart-Scott-Rodino Anti-Trust Improvements Act and other customary closing conditions.

The acquisition will join two rental car companies with complementary businesses. St. Louis-based Enterprise’s primary strength lies in the in-town and insurance replacement segments of the industry. Vanguard, based in Tulsa, Okla., operates the National Car Rental and Alamo Rent-A-Car brands, which serve the airport segment of the market. According to Enterprise press materials, capitalizing on the companies’ assets in these different segments will allow more efficient fleet utilization and enhance the combined companies’ ability to offer low prices and quality customer service.
“As the dynamics of our industry continue to evolve, it’s clear to us that the future belongs to the service providers who offer the broadest array of services for anyone who needs or wants to rent a car,” said Enterprise Rent-A-Car Chairman and CEO Andrew C. Taylor. “Joining forces with National and Alamo will enable us to do just that, from replacement and leisure rentals to small-business and corporate customers."
According to Taylor, the move also “makes great sense for the employees of both organizations. This transaction will give our combined operations a comprehensive range of assets that will enhance our ability to compete vigorously in every segment of the industry and for all kinds of customers."
"By combining our companies, we will be able to offer an expanded network to better serve the needs of car rental customers and will continue to be able to deliver the award-winning service they have come to expect with each rental experience,” said William E. Lobeck, president and CEO, Vanguard Car Rental USA Inc.
Financial terms of the transaction were not disclosed.

Enterprise will dominate the Airport market within 5-8 years. This is an amazing move by the Taylor family. Its not the accounts or the cars but the property that makes this such a great deal. The Airports will soon become there own regions, this will create thousands of new jobs for Enterprise employees.

I was use to work Enterprise. I have respect for the Taylors but, I do not miss it. I was recruited by Vanguard Car Rental to be part of the future of the company. Now, this annoucement. Unbelievable.

I do not believe it will create thousand new jobs. The Airport business is tough, much tougher than dealing with the dealerships and bodyshops. Vanguard has good employees that know airport operations. It will be interesting to see what Enterprise does with National and Alamo brands

Originally Posted by Unregistered

I do not believe it will create thousand new jobs. The Airport business is tough, much tougher than dealing with the dealerships and bodyshops. Vanguard has good employees that know airport operations. It will be interesting to see what Enterprise does with National and Alamo brands

This was not a merger, it will all be Enterprise in the end. If the airports only add the market share that National and Alamo have, it will require more accountants, more loss control, more traffic managers, more remarketers, more operations staff, more shuttle drivers, more traffic drivers, more MTs,more assistant managers, and more branch managers. Thats if the dont make the airports there own regions. The Alamo/National employees on the front lines will probably stay but will be retrained and managed by current Enterprise employees. This is an absolute coup for Enterprise there is no arguing that.

I work in a airport with enterprise...the MT position requires a 4 year degree...but most of the alamo and national team do not have this requirement...i see alot of layoffs for that company in the future

Originally Posted by Unregistered

I work in a airport with enterprise...the MT position requires a 4 year degree...but most of the alamo and national team do not have this requirement...i see alot of layoffs for that company in the future

you dont need a four year degree to work for Enterprise. I think there will be layoffs or people quitting in the long run but not right away.

In group 56 you must have a college degree....some people get hired with a 2 year and work experence but very few

Originally Posted by Unregistered

In group 56 you must have a college degree....some people get hired with a 2 year and work experence but very few

Right, its rare but you dont need a 4 year degree.

Very exciting!