ICR Holdings acquires Island Car Rentals and Jamaica Rental Company

ICR Holdings has completed a deal worth J$2.7 billion.

This allowed the company to acquire car rental companies Island Car Rentals Limited and Jamaica Rental Company Limited.

The deal, which has VM Wealth as the lead broker and arranger, closed in late July.

The new holding company, founded by career banker Ryan Parkes, holds a 100 per cent stake in both entities.

Island Car Rentals Limited is a full-service ground transportation company, with nearly 1500 vehicles.

ICR Holdings CEO Ryan Parkes says the company will seek to leverage expansion opportunities.