Go Rentals, a luxury car rental provider that focuses on the private aviation market, on Monday announced a “significant investment” from private-equity firm RedBird Capital Partners. Terms of the deal were not disclosed.
According to Go Rentals, this funding will fuel organic growth while allowing the company to benefit from RedBird’s ecosystem of aviation, sports, entertainment, and financial services platforms. Under the Agreement, co-founders and owners Kavous and Kaye Gitibin will continue to lead Go Rentals, along with the current management team. RedBird partner Andrew Lauck and managing director Alexander Blankfein will join Go Rentals’s board.
“RedBird is a world-class private equity investor with an exceptional record of building industry-leading businesses and creating opportunities for access and expansion to adjacent luxury markets,” said Kaye Gitibin.
Newport Beach, California-based Go Rentals has grown from a fleet of seven vehicles in 1995 to a provider of high-end rental cars to sports, media, and private client customers in more than 175 markets throughout the U.S.
J.P. Morgan Securities served as financial advisor with Sheppard, Mullin, Richter & Hampton as legal counsel to Go Rentals on the transaction. Kirkland & Ellis served as legal counsel to RedBird.