MidCap Advisors Advises on Sale of Mint Cars On-Demand to Enterprise Holdings

NEW YORK, May 21, 2012 /PRNewswire/ -- MidCap Advisors LLC, a boutique investment banking firm based in New York with offices throughout the United States, is pleased to announce that it advised Mint Cars On-Demand (Mint), a New York City-based car-sharing company, in connection with the sale of its business to Enterprise Holdings, a comprehensive service provider in the car rental industry.

Richard Ull, who founded Mint in 2008, will manage Enterprise's newest car-sharing division. "I am very proud of what we've accomplished thus far in the New York and Boston markets in such a short amount of time," he noted. "But now, thanks to Enterprise's industry leadership and financial strength, our business is going to the next level - and our car-sharing members not only will have access to a larger and newer fleet, but also to a team renowned for its community focus and customer-service excellence."

Doug Hendrickson, a Managing Partner at MidCap Advisors, worked with Mint to arrange the transaction. "This transaction makes perfect sense for both parties," said Hendrickson. "Partnering Mint's strategic car-sharing locations with the resources of Enterprise, one of the largest service providers in the car rental industry, creates great synergy between both companies."

About Mint Cars On-Demand

The Mint Organization LLC ("Mint") is a rapidly growing car-sharing company that was founded in 2008 by Richard Ull and currently has locations in New York City and Boston.

About Enterprise Holdings

Enterprise Holdings operates the flagship Enterprise Rent-A-Car brands as well as the National Car Rental and Alamo Rent-A-Car brands. Founded in 1957, Enterprise has always focused on community transportation needs, renting cars where customers live and work. With 5,500 branches located within 15 miles of 90 percent of the U.S. population, Enterprise Rent-A-Car has more than twice as many neighborhood locations as its nearest competitor.

About MidCap Advisors LLC

MidCap Advisors LLC (MidCap) is a middle market investment banking firm that provides innovative and results oriented merger & acquisition, strategic planning, and business valuation services to clients nationwide. MidCap has offices in New York, Chicago, Boston, Philadelphia, Kansas City and Denver. For more information about MidCap Advisors, visit http://www.midcapadvisors.com.

Media Contact:
Doug Hendrickson
Direct: (212) 722-6547

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SOURCE MidCap Advisors LLC