PE-backed hotels, car rental, travel platforms, and hospitality businesses
Owned by The Carlyle Group
Carlyle Group, Clayton Dubilier & Rice, and Merrill Lynch PE took Hertz private from Ford for $15B in 2005. The highly leveraged deal contributed to Hertz's 2020 bankruptcy — one of the largest in U.S. history — with $19B in debt. Emerged from bankruptcy in 2021.