Fox Rent-A-Car, Inc. completed a $25 million debt refinancing that will assist the company in accelerating its growth. Based in Los Angeles, Fox is the fourth largest car rental agency in the United States. Proceeds from the refinancing will be used to retire existing debt and provide Fox with working capital for expansion. Parkfield Capital acted as Fox’s exclusive financial adviser on the debt placement transaction.

NewSpring Capital, a private equity fund providing growth and expansion capital, led the $25 million investment in Fox in partnership with Kemper Corp. and Star Mountain Capital. “Possessing a strong and defensible market position, Fox is currently in seven of the top ten airports,” said Anne Vazquez, NewSpring Partner. “Backed by a veteran management team, all with proven experience in the industry, this company is well-positioned for continued growth.”

“Fox was seeking financing partners better suited for the company’s unique strategic situation,” said Andres Pinter, Parkfield Capital’s founder and Managing Director. “The company’s new lenders not only recognize Fox’s continued opportunities for growth, but also deeply value the management team’s long-term vision. Fox was very fortunate to find the perfect long-term financing partners.”

Parkfield Capital Advisors LLC advised Fox Rent-A-Car, Inc. on the refinancing. Parkfield Capital’s debt placement advisory business presents middle market companies with access to creative capital solutions.