Clearwater International acted as sole financial adviser to the shareholder of Terstappen Car Rental Group on the sale of its car rental activities, comprising the downtown stations and the airport stations of Terstappen Car Rental Group, to Buchbinder Rent-a-Car, one of the leading independent Germany based car rental companies.
Terstappen Car Rental Group, with annual sales of around €40m and approximately 600 employees, is a leading German provider of car rental services. The Group operates a fleet of approximately 4,000 vehicles and has more than 30 stations nationwide, including in-terminal-airport stations at Germany’s six largest airports (Frankfurt am Main, Munich, Stuttgart, Duesseldorf, Hamburg and Berlin). In addition, Terstappen Car Rental Group is the exclusive German master license holder of Dollar Thrifty Automotive Group, thereby offering a global car rental network with access to approximately 2,500 rental stations and 250,000 vehicles in over 100 countries.
Clearwater International, led by partner Markus Otto, advised Terstappen Car Rental Group