Rentandes SA / 23 & Park

The Abraaj Group has sold Rentandes SA to 23 & Park for an undisclosed consideration.
Rentades is the leading leasing company in Colombia, offering vehicles and equipment. The company acquires assets (financed through unsecured loans in the Colombian banking system) and rents them for monthly payments over an agreed period. Upon final maturity of the leasing agreement, clients have the option to purchase the asset, replace it, return it to the company, assign the agreement to a third party or extend it. Rentades operates in three business lines: automobiles, cargo/transport vehicles and heavy equipment. Its offer applies to single assets as well as corporate fleets.
23 & Park is a private investment firm that seeks to acquire and operate middle-market companies in Colombia with superior business models. The firm is headquartered in Bogotá and specializes in the active management of solvent small to medium-sized businesses between US$4–35 million with strong potential to grow sustainably.
The Abraaj Group is a global institution investing in growth markets across Africa, Asia, Latin America, the Middle East and Turkey. Founded in 2002 by Chief Executive Arif Naqvi, the firm has pioneered the private equity industry in many of the markets where it operates with innovation and entrepreneurial drive.
Oaklins’ team in Colombia acted as the exclusive advisor to the sellers in this transaction.

“In Sӧderberg & Partners we have found a partner who sees the world the same way we do and the whole team at Fidelius is incredibly excited about the next phase of our journey. I would like to extend our thanks to Ben and the team at Cavendish who ran an excellent process and provided quality, considered advice throughout – many thanks to the whole team!”

Jim Grant, CEO, Fidelius Group

“In July 2015 we founded Pure Cremation and have grown the business to become the largest independent provider of prepaid plans in the UK. Pure is only part way through its exciting journey and, after a rigorous search process, we are delighted to have found such a strong partner in Epiris.

The Cavendish team, led by Jonathan Buxton and Ben Goldring, did a fantastic job, running a truly competitive process and managing the transaction with great skill. They were crucial in delivering this deal and its successful outcome – many thanks to the whole team.”

Bryan Powell and Catherine Powell, Co-Founders of Pure Cremation

“We are delighted to have achieved this result for the business that Daniel Freedman co-founded and found such a strong partner in the form of Lovell Minnick for the next stage of its growth. Howard and Ben were an excellent support throughout this process, and provided us with first class advice and guidance throughout.”

Elaine Freedman, shareholder of London & Capital

“We chose to partner with LMP because of the firm’s excellent track record of working with management teams to scale and enhance wealth and asset management firms. Their deep experience in the space and our sense of shared values and culture align with our focus on providing an exceptional service and experience for our clients.”

Guy McGlashan, Chief Executive Officer, London & Capital

“We are delighted with the support received from the finnCap Cavendish team throughout this process. Mike and the team ensured that we prepared meticulously, identified the right pool of potential investors and worked closely with us, the management team and our legal advisers to deliver a great outcome for the Shareholders. We wish the Intelling team and RDCP all the best in their next phase of growth.”

Karl Cockwill, Portfolio Director, NVM

“This partnership will enable us accelerate our global growth plans by investing in our people, technology, sales and marketing. I would like to thank the whole team at Cavendish for providing advice and guidance on this transformational transaction.”

Sean Fitzgerald, CEO, Sentenial

“This new partnership is a very exciting opportunity for Tempcover to both consolidate its existing position and provide a platform for further growth into new verticals and markets. Many thanks to Ben and the Cavendish team who provided invaluable advice throughout the process and helped us achieve this great outcome for the Company.”

Alan Inskip, CEO, Tempcover

We were delighted with our decision to engage with Cavendish to advise us on our plans to bring inward investment into the group. Duncan, James Ellis and James Baker brought such complementary skills to our internal deal team. They calmly helped us navigate through all stages of the process, due diligence and through to completion. They were a pleasure to work with and I’d highly recommended them

Steve Wilkie, Chairman and Co-Founder, the Responsible Group

“The Cavendish team led by Joe Stelzer and supported by Chirag Gohil did an outstanding job in identifying Begbies as a perfect home to drive our future growth. Cavendish negotiated an excellent deal and provided invaluable guidance to us through the process.”

Paul Appleton, Managing Partner at David Rubin & Partners

I am delighted that we have secured a new loan facility an that our three existing funders continue to support the business during this challenging period, demonstrating their confidence in Morses Club and our growth and digital diversification strategy.

Paul Smith, CEO, Morses Club PLC