Global Private Group, a private equity and project finance firm focused on worldwide investments, has made a USD 56 million investment to take a majority stake in a Central American corporate and personal fleet management company. Global Private Group, a private equity and project finance firm focused on worldwide investments, has made a USD 56 million investment to take a majority stake in a Central American corporate and personal fleet management company. Global Private Group, a private equity and project finance firm focused on worldwide investments, has made a USD 56 million investment to take a majority stake in a Central American corporate and personal fleet management company. Global Private Group has made a USD 56 million investment to take a majority stake in a Central American corporate and personal fleet management company.

Global Private Group, a private equity and project finance firm focused on worldwide investments, has made a USD 56 million investment to take a majority stake in a Central American corporate and personal fleet management company. The car rental sector in Central America grew by 19% in 2015 to USD3.1 billion, and has grown at a compound annual growth rate of 11% since 2003, according to the ABLA, the Brazilian Car Rental Association.
 
Partner of Global Private Group says: “As automobile penetration grows in Central America, we identified corporate fleet management as the more scalable business model within the car rental sector. The fleet management company, with its demonstrated record of growth and excellent customer service is the ideal company for our investment into this burgeoning sector. The company boasts a lean business model and is prudently leveraged, ensuring that our capital injection is used for growth instead of paying down debt.” Founded in 2008, the fleet management company currently operates a fleet of around 3,400 vehicles and focuses on the high growth, high margin, corporate fleet management market. The company expects to increase EBITDA by 80% in 2017 in comparison to 2016.