Avis Budget Group, Inc.

Avis Budget Group, Inc.

Avis Budget Group, Inc.

Overview
Date Founded

2006

Type of Company

Public

Employees (Worldwide)

30K

Industries

Consumer Services
Pension Funds & Sovereign Wealth
Real Estate
Consumer Finance

Company Description

Avis Budget Group, Inc. is a leading global provider of vehicle rental services through its Avis and Budget brands, with 10,000 rental locations in approximately 175 countries around the world. Avis Budget Group operates most of its car rental offices in North America, Europe and Australia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group has approximately 29,000 employees and is headquartered in Parsippany, N.J

Website
Contact Data
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Executives & Employees

Interim President & Chief Executive Officer

Interim President, Americas

Chief Financial Officer & Executive Vice President

Executive Vice President & General Counsel

Vice Chairman & General Counsel

Executive Vice President & Chief Information Officer

Executive Vice President & Chief Human Resources Officer

Executive Vice President & Chief Human Resource Officer

Chief Innovation Officer & Executive Vice President

Chief Accounting Officer

Board of Directors

Partner at 3G Capital Partners LP

Senior Operating Partner at Stonepeak Infrastructure Partners

Former Chief Administrative Officer, Corporate & Investment Bank at JPMorgan Chase & Co.

Managing Partner at SRS Investment Management LLC

Member, Board of Directors at Avis Budget Group, Inc.

Senior Advisor at Bain Capital LP

Analyst at SRS Investment Management LLC

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Avis Budget Group, Inc.
Owners & Shareholders
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SRS Investment Management invests and trades in securities and financial instruments of all kinds and descriptions, whether publicly traded or privately placed. The objective of the SRS Hedge Funds is to deliver superior risk-adjusted absolute returns over the long-term through the implementation of a global long/short equity strategy based on fundamental research. The firm conducts substantial research and employs a disciplined investment process in making long and short investments in the global equity markets. SRS Investment Management invests across several industries and geographies. They tend to focus on investing in the global technology and technology-related markets, as well as investing across various sectors in India. The Long-Only Fund's investment objective is to deliver superior relative returns through the implementation of a global long equity strategy based on fundamental research. It was formed for the purpose of investing and trading in a wide variety of long securities and financial instruments, US and non-US, while primarily focusing on publicly traded equities, equity derivatives and equity-linked securities. The PE Funds (through the PE Master Fund) are invested primarily in Indian real estate and private equity investments. On the real estate front, the PE Funds invest in commercial, residential, retail and hospitality assets and also invest in real estate development companies. The investment objective of the PE Funds is to identify and acquire attractive real estate assets, develop them into quality end products and lease/sell them to potential users/acquirers. The Special Opportunities Fund is a single themed equity and equity linked investment idea that may also be commonly held by the Hedge and/or Long-Only Funds.

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GCM's investment process focuses on deep, fundamental research and individual security selection primarily within equity and credit-oriented strategies. The firm employs a GARP investment approach that focuses on companies in stable industries, with recurring revenue streams or entrenched market positions. GCM may also focus on contrarian investments (cyclical or company specific). They often combine GARP and contrarian investing when a steady growth business emerges within a company as the dominant economic force over a more challenged business unit. GCM invests in stored or hidden value situations, where excess balance sheet capacity may be used to accelerate returns or where contractual rights or startup operations show no present value but may be significant drivers of value tomorrow. In addition to long equity investments, GCM commits significant capital to short equity positions. They look for companies whose industries face cyclical, transitory or secular headwinds, whose competitive position is likely to erode over the near- to medium-term, and companies whose liquidity profile will potentially create equity value impairment or cause future issuance of additional equity at lower prices. GCM may also maintain short positions in equity index futures or other index products to reduce net market risk. The firm also engages in long and short credit positions with emphasis on business or asset stability over growth. They may seek to reduce the risk through other hedges that protect the overall portfolio of the Funds, including interest rates, foreign currencies or sovereign, corporate or asset-backed credit spreads.

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NSC-Private Banking is an active, conservative manager which focuses on long-term capital preservation. They tailor their investment approach to their clients' profile, typically investing in equity and bond funds globally, with a preference for the US market.

Recent Transactions
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Helloworld Travel Ltd. purchases Show Group Enterprises Pty Ltd. from Avis Budget Group, Inc.

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Avis Budget Group, Inc. purchases Turiscar-Rent a Car SA

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Avis Budget Group, Inc. purchases Morini SpA

Insider Transactions
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Transaction Advisors
Accountant

Advised onAvis Budget Group, Inc. purchases Galileo International, Inc.

Legal Advisor

Advised on purchases Wyndham Destinations, Inc. from Avis Budget Group, Inc.

Investment Advisor

Advised onThe Blackstone Group, Inc. purchases Travelport Corporate Solutions, Inc. from Avis Budget Group, Inc.

Legal Advisor

Advised onThe Blackstone Group, Inc. purchases Travelport Corporate Solutions, Inc. from Avis Budget Group, Inc.

Legal Advisor

Advised onAvis Budget Group, Inc. purchases Avis Budget Emea Ltd. from D'Ieteren SA/NV

Legal Advisor

Advised onAvis Budget Group, Inc. purchases Avis Budget Emea Ltd. from D'Ieteren SA/NV

Advisors & Consultants
Pension Consultant

Global Portfolio Strategies, Inc., a subsidiary of Prudential Financial, Inc., is an American company located in Hartford, CT, that provides investment advice.

Consultant

Former Chief Executive Officer, President & Chief Operating Officer at Avis Budget Group, Inc.

Consultant

Former President-North American Region at Diversey, Inc.

Legal Advisor

Co-Chair, Intellectual Property Litigation Practice Group at Choate Hall & Stewart LLP

Clients

Sirius XM Holdings, Inc. is a radio company. The company offers music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services. Its brand channels include SiriusXM Traffic, SiriusXM Travel Link, NavTraffic, NavWeather, SiriusXM Aviation and SiriusXM Marine. The company was founded in 1990 and is headquartered in New York, NY.

Barloworld Ltd. is a holding company, which engages in the provision of integrated rental, fleet management, product suppor, and logistics solutions. It operates through the following segments: Equipment; Automotive and Logistics; and Corporate. The company was founded in 1902 and is headquartered in Sandton, South Africa.

Despegar.com Corp. provides online travel agency services. It offers tours and corporate packages to destinations such as Paris, Cancun, Rio de Janeiro, Rome, Barcelona, and Las Vegas, as well as vehicle rentals and hotel bookings. The company was founded by Roberto Hernán Souviron, Federico Fuchs, Martín Rastellino, Ernesto Cadeiras and Christian Vilate in December 1999 and is headquartered in Buenos Aires, Argentina.

Key Stats and Financials As of 2019
Market Capitalization
$826M
Total Enterprise Value
$18.9B
Earnings Per Share
$3.99
Revenue
$9.17B
Total Equity
$656M
Net Profit
$302M
EBITDAMargin
42.61%
Enterprise Value Sales
2.06x
Enterprise Value EBITDAOperating
4.16x
TEVNet Income
62.5x
Debt TEV
0.91x
EBITDA
$3.91B
Total Debt
$17.1B
Three Year Compounded Annual Growth Rate Of Revenue
1.94%
Five Year Compounded Annual Growth Rate Of Revenue
1.57%
Non-Profit Donations & Grants
$5,000 - $15K
2018
$5,000 - $10K
2018
$1,000 - $4,999
2018
Investments
Details Hidden

Carey International, Inc. provides chauffeured vehicle services. Its services include airport limousine services, hourly charters, special occasions, road show and tours and sightseeing. The company was founded in 1921 and is headquartered in Washington, DC.

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Passkey International, Inc. provides web based solutions for managing group hotel reservations. product, GroupMAX, is the only Software as a Service ('SaaS') solution that is deployed to power reservations for all sizes of meetings across a wide range of event settings including Convention & Visitor Bureaus (CVBs), corporations, travel management companies, brand hotels, independent hotels, and casinos. The company was founded in 1996 and is headquartered in Tyson's Corner, VA.

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Investors
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Investor at Zipcar, Inc.

Suppliers
I.D. Systems, Inc. Appliances & Electronics | Woodcliff Lake, NJ

I.D. Systems, Inc. engages in the development, marketing, and sale of wireless machine to machine solutions for managing and securing enterprise assets. Its business activities focus on the following primary applications: industrial fleet management, transportation asset management, and rental fleet management. The company was founded by Kenneth S. Ehrman and Martin G. Rosansky in August 1993 and is headquartered in Woodcliff Lake, NJ.

Tata Consultancy Services Limited Other Business & Consulting Services | Mumbai, India

Tata Consultancy Services Ltd. is an IT services, business solutions and outsourcing organization. The firm offers consulting-led, integrated portfolio of IT and IT-enabled services which includes application development and maintenance, business intelligence, enterprise solutions, assurance services, engineering and industrial services, infrastructure services, consulting, asset leveraged Solutions and business process services. It operates through the following segments: Banking, Financial Services, & Insurance; Manufacturing; Retail & Consumer Business; Communication, Media, & Technology; and Others. The company was founded in 1968 and is headquartered in Mumbai, India.

MindTree Ltd. IT Consulting & Services | Bangalore, India

Mindtree Ltd. is an information technology solutions company, which engages in testing, infrastructure management, technical support, and information technology services. It operates through the following business segments: Retail, Consumer Packaged Goods and Manufacturing (RCM); Banking, Financial Services and Insurance (BFSI); Travel and Hospitality (TH); and High Technology and Media (Hi-tech). The company was founded on August 5, 1999 and is headquartered in Bangalore, India.

Competitors
Penske Corporation Automobiles - Bloomfield Hills, MI

Penske Corp. engages in the provision of transportation services. It operates through a variety of industry segments including retail automotive, truck leasing, transportation and logistics, manufacturing, and motorsports. The company was founded by Roger Penske in 1969 and is headquartered in Bloomfield Hills, MI.

Hertz Global Holdings, Inc. Consumer Services - Estero, FL

Hertz Global Holdings, Inc. provides car rental services. It operates as a vehicle rental business globally through its Hertz, Dollar, and Thrifty car rental brands. The company operates through the following segments: U.S. Rental Car, International Rental Car, and All Other Operations. The U.S. Rental Car segment deals with rental of vehicles, as well as sales of ancillary products and services in the U.S. The International Rental Car segment provides rental and leasing of vehicles, as well as sales of ancillary products and services internationally. All Other Operations segment offers vehicle leasing and fleet management services, and other business activities through its subsidiary DonLen. Hertz Global Holdings is founded 1918 and is headquartered in Estero, FL.

Penske Automotive Group, Inc. Automobiles - Bloomfield Hills, MI

Penske Automotive Group, Inc. operates as an international transportation services company, which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems and related parts & services. It operates through the following segments: Retail Automotive, Retail Commercial Truck, Non-Automotive Investments and Other. The Retail Automotive segment consists of retail automotive dealership operations. The Retail Commercial Truck segment is the dealership operations of commercial trucks in the U.S. and Canada. The Other segment is comprised of commercial vehicle and power systems distribution operation and other non-automotive consolidated operations. The Non-Automotive Investments segment is the equity method investments in non-automotive operations. The company was founded in October 1992 and is headquartered in Bloomfield Hills, MI.

Awards & Honors
Rank #330
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #330
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine
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