The company will assume all existing contracts in the country, significantly strengthening its operational scale within the Colombian market.
BOGOTÁ, Colombia–(BUSINESS WIRE)–rentandes has announced the acquisition of all active renting contracts previously held by Local Colombian Competitor within the country. While the financial terms of the transaction were not disclosed, the deal integrates approximately 1,000 vehicles into the company’s platform. This strategic move continues rentandes’ expansion in the Colombian operating leasing market and ensures seamless service continuity for all newly integrated clients.
“This acquisition reflects our confidence in the Colombian market and the importance of operating leases as a critical tool for companies to access productive assets without tying up capital,” said Álvaro Orbes, CEO of rentandes. “Our commitment to our clients is to guarantee a smooth transition, providing the necessary support to maintain service continuity while offering a platform with greater scale, financial backing, and operational capacity.”
A Strategic Acquisition
The transaction solidifies rentandes’ client base in sectors where vehicle leasing is vital for productivity—including energy, mass consumer goods, services, and infrastructure—and establishes new commercial relationships that the company expects to develop further in the coming years.
This growth is driven by the conviction that Colombian companies increasingly require models that allow them to access productive assets without tying up capital, enabling them to delegate fleet management and instead focus on their core business activities. In this segment, scale, operational discipline, and client proximity are the defining factors of a premier operator—attributes that rentandes aims to reinforce through this operation.
Third Acquisition Executing 23 & Park’s Industry Thesis
The acquisition of the portfolio of the Local Colombian Competitor is part of the strategy executed by 23 & Park, an investment group that acquired rentandes in 2019 and has developed a thesis specialized in operating leasing and services related to productive assets in Colombia.
With this transaction, 23 & Park completes its third major acquisition in the industry, beginning with rentandes, followed by Tuio, and now the contracts of Local Colombian Competitor. This trajectory reflects a strategy focused on building platforms with scale, operational capacity, and specialized knowledge of the local market.
23 & Park is focused on companies that combine intelligent capital, asset management, and operational solutions for businesses. “With this transaction, rentandes consolidates its position as one of the leading independent renting operators in Colombia and Latin America, with a broad portfolio of vehicles, machinery, and productive assets,” stated Daniel Palacios, Co-Founder of 23 & Park. “We will continue to develop solutions for companies, facilitating access to fleets and other productive assets without the need for CapEx investments, while relieving our clients of the operational responsibilities of asset ownership.”
Continuity and Support for Clients
For clients whose contracts are being integrated into rentandes, the company emphasized that its primary objective is to ensure an orderly transition and maintain service continuity. Existing contracts will retain their originally agreed-upon terms, in accordance with the applicable conditions of each case.
The rentandes platform will incorporate these contracts into its operation, prioritizing the maintenance of high service standards, strengthened fleet management, and comprehensive client support throughout the integration process.
“We understand that for our clients, continuity is paramount. Therefore, our priority will be to execute this process responsibly and transparently,” added Orbes. “We want the companies joining our platform to find in rentandes a stable partner with over 25 years of experience and a long-term commitment to the market.”
About rentandes
rentandes is a Colombian company specialized in operating leases for productive assets, focused on supporting businesses that seek to grow without immobilizing capital. With a market presence of over 25 years, the company serves clients across diverse economic sectors nationwide and has been part of the 23 & Park group since 2019. https://rentandes.com/
About 23 & Park
23 & Park is an investment group focused on the acquisition and development of companies in Colombia, with a particular emphasis on business models based on productive assets and specialized related services. Since the acquisition of rentandes in 2019, the group has executed a growth strategy based on the consolidation of the operating lease sector, the integration of platforms, and long-term value generation. https://www.23park.com
Contacts
Media Contact:
23 & Park Co-Founders: Daniel Palacios & Alvaro Orbes
[email protected]
[email protected]
