Clearwater International acted as sole financial adviser to Mr. Hubert Terstappen and Car and Fly GmbH, a Buchbinder Group company, on the assignment of the International DTAG Master License Agreement for Germany to The Hertz Corporation.
As exclusive licensee, Terstappen / Buchbinder Group utilise the brands Dollar and Thrifty in the German market and have operated the car rental business via the brands Dollar and Thrifty for several years.
Hertz is one of the largest worldwide car rental companies with more than 1,700 airport locations in the U.S. and more than 1,300 airport locations internationally. Hertz operates the Hertz, Dollar, Thrifty and Firefly car rental brands in more than 11,000 corporate and licensee locations throughout 140 countries worldwide. In 2012 The Hertz Corporation acquired Dollar Thrifty Automotive Group Inc. The integration of the German Dollar Thrifty activities into the Hertz Corporate network is an important step within the Hertz strategy.
Clearwater International, led by partner Markus Otto, advised Buchbinder.