Daily News: May 21, 2012

MidCap Advisors Advises on Sale of Mint Cars On-Demand

MidCap Advisors LLC, a boutique investment banking firm based in New York with offices throughout the United States, announced 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.”

The Mint Organization LLC 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.

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.