Parkfield Capital Advises Fox Rent-A-Car, Inc. on $25 million debt refinancing
MANHATTAN BEACH, CA – Parkfield Capital Advisors LLC (“Parkfield”) announced today that its client, Fox Rent-A-Car, Inc. (“Fox” or the “Company”), completed a $25 million debt refinancing that will assist the Company in accelerating its growth. Fox Rent-A-Car is the fourth largest car rental agency in the United States according to Auto Rental News, a trade publication. Proceeds from the refinancing will be used to retire existing debt and provide necessary working capital for expansion. Parkfield Capital acted as Fox’s sole financial adviser on the debt placement transaction.
“Fox was seeking a lender better suited for the Company’s unique strategic situation,” said Andres Pinter, Parkfield’s founder and Managing Director. “The Company’s new lender not only recognizes Fox’s opportunities for growth, but also deeply values the management team’s long-term vision. Fox was very fortunate to find the perfect long-term financing partner.”
Parkfield’s debt placement advisory business presents middle market companies with access to creative capital solutions. The Parkfield team is composed of seasoned professionals with deep credit experience and relationships with a broad network of capital providers. Parkfield specializes in advising clients generating from $10 million up to $500 million in revenue that are seeking to refinance existing debt at more favorable terms, or seeking financing for growth or other situations.
Fox was founded in 1989 as a deep value brand catering to airport travelers. Actively managed and owned by its founders, the Company has enjoyed robust growth for nearly 30 years. Fox has been successfully growing airport rental market share and positioning itself as a viable alternative to the larger brands in the car rental space. With 20 major corporate owned airport locations across the US plus 80+ affiliate locations and a growing roster of international partner locations, Fox offers consumers great value, convenience and superior service. Fox Rent-A-Car, Inc. is a privately-owned and operated C corporation, based in Los Angeles, California.
Parkfield Capital Advisors LLC is a leading boutique financial advisory firm located in Los Angeles, California. Parkfield focuses on advising stakeholders in balance sheet restructurings and private placements of debt and equity. The firm was founded by Andres Pinter in 2014.
Broker/dealer services offered through Edgewater Capital, LLC (member FINRA/SIPC)