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CarTrawler
From Wikipedia, the free encyclopedia
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CarTrawler is an Irish car rental provider. Its headquarters are located in Dublin. It has offices in New York City, Melbourne, and London.[7]
As of August 2024, CarTrawler had a network of over 2,200 vehicle rental service providers in 150 countries. It also manages online car rental websites under the brands Holiday Autos and Argus Car Hire.[8]
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History
CarTrawler was founded in 2004 by brothers Greg and Niall Turley.[5] In February 2014, as part of a debt-secured deal worth €450 million, CarTrawler was sold to investment firms BC Partners and Insight Ventures Partners.[9] BC Partners received a controlling stake for an undisclosed amount, while Insight Ventures Partners acquired a minority stake. A "significant portion" of the shares remained with local management.[10] It was reported that BC Partners and Insight Ventures Partners used €150 million in debt financing to complete the transaction.[11]
In August 2015, CarTrawler entered into an exclusive partnership agreement with Ryanair.[12] In September 2017, Ryanair announced an extension of this agreement for another two years.[13]
In May 2020, British private equity group TowerBrook Capital Partners invested €100 million to acquire CarTrawler.[1][14][15] The acquisition was driven by the company's difficulties amid COVID-19 restrictions.[5][16] It was noted that BC Partners and Insight Ventures Partners suffered significant losses from this deal.[17][18]
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References
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