Corporate Profile

We operate in the Fleet Management and Rent-a-Car (“RAC”) segments and we have a Used Cars Sales operation in order to support the renewal of our fleet.

According to the latest data disclosed by the Company, in March 31, 2022, our total fleet composition for fleet management was composed by 123,153 vehicles available to corporate clients scattered throughout the national territory. The market is passing through a huge growth momentum backed by the still estimative low national penetration – about 11.8% of the Brazilian corporate fleet is outsourced.

In March 31, 2022, we had a total fleet of 78,181 vehicles, in addition to the 2,399 cars available in our franchise network for the RAC services. We understand that the country is going through no time when there is greater access by the population to the vehicle rental sector, as well as the acculturation of the Brazilian population in vehicle rental, the result of replacing ownership with use, growth in tourism and greater adherence to shared transport per application in recent years.

With a perspective of long-term growth, in our merger and acquisition (M&A) operations carried out by the Company, we seek to establish a leading position in the consolidation movement of the Brazilian Vehicle Rental and Outsourcing sector with proven expertise:

  • 1985/1990: Foundation of Unidas S.A. through the M&A of 5 companies and 2 financial sponsors;
  • 1993: Foundation of Companhia de Locação das Américas – Locamerica.
  • 2000: Locamerica’s nationwide expansion through the acquisition of small car rental companies;
  • 2013/2015: Best Fleet acquisition;
  • 2017: Acquisition of Panda Meridional and merger with Auto Ricci;
  • 2018: Locamerica’s merger with Unidas S.A. resulting the New Company which as of Setember of the same year starts to use the Unidas brand Unidas. The Locamerica-Unidas merger was elected as the Best M&A Operation by IBEF’s Golden Tombstone award.
  • 2019: NTC Serviços Ltda. acquisition in order to increase our fleet and assume a new position in the Agribusiness industry with the subsequent creation of the Agribusiness business division Unidas Agro (
  • 2020: (i) Acquisition of Zetta Frotas, a fleet management company with 2,600 vehicles focused exclusively on the niche of adapted vehicles and which resulted in the creation of Unidas Veículos Especiais business division; (ii) Acquisition of iTER, a vehicle tracking telemetry and IoT company, reinforcing Unidas’ digital and technological transformation movement.
  • 2021: (i) Acquisition of Getrak, a leading company in vehicle tracking and telemetry in Brazil, reinforcing our portfolio of services provided for Unidas 360º fleet management. (ii) Acquisition of Sofit, an online fleet management system company, renewing our commitment to technological transformation and the best customer service at Unidas 360º.


These actions allowed Unidas to have a complete client attendance platform, which includes all available services in the Fleet Management and Car Rental markets, besides expanding its geographic presence. The businesses combination has captured significant operational, administrative and economic-financial synergies as well as capital structure optimization, proving that we are ready to move forward in order to be, until 2023, the reference company in vehicular mobility in the country.

All Unidas planning was based on value creation into four big pillars:

  • Buy well: highlighting us as the second largest car acquirer in Brazil enabling a higher bargaining power with suppliers;
  • Rent well: services focused on customer satisfaction combined with a strong operating efficiency, which contributes to the increase of our margins and to be reference for global clients due to Enterprise’s sponsorship – largest segment name in the world;
  • Sell well: nationwide used car store presence with sales focused on retail, competitive vehicle mix and high store productivity;
  • Fund well: improvement of credit rating and debt costs reduction, benefits that were originated from the potentially financial synergies between the companies.


Below, a brief description of our main activities:

Fleet Management: Our fleet management activities consist in the rental of new vehicles for corporate clients by contract assignment whose deadlines vary from 12 to 60 months. Our services comprehend primarily of fleet planning, vehicle licensing, preventive and corrective maintenance and replacing of damaged vehicles and emergency assistance. The main benefit our clients gain from outsourcing their fleets is the reduction in costs, particularly in regards to acquisition, renovation, management and divestment (sales) of their fleet, allowing them to stay focused on their main activities. Our client contracts are customized to serve their businesses specifications and needs with decentralized client attendance.

It is important to mention the intrinsic characteristic of predictability of the Fleet Management business revenues, since the activity evolves the signing of contracts that were previously priced. Besides that, it is a business that has a non-cyclic profile, even in periods of high economic recession, once the companies still prefer to outsource the management of their fleets in order to reduce their costs and allocate less capital for this purpose. The negotiation of the contract terms is made individually for each client and the values are annually readjusted according to inflation changes (IPCA or IGP-M indexes). Our lease agreements stipulate fines for early termination, which can amount to 50% of the residual value of the agreement, mitigating the investment/return risk for the Company.

Rent-a-Car: Company’s RAC business comprehends the rental of vehicles for individual and corporate clients. The Company attends individuals directly or by travel agencies, tourism operators and commercial partnerships. Corporate clientes are attended directly or also by travel agencies and tourism operators, with lease terms that vary, generally, between a day and a month. Besides that, insurance companies use Company’s services to offer reserve vehicles to its clients in cases of insurance coverage or use of guarantee. Our RAC client base comprehends around 3.0 million of clients. Unlike the fleet management segment, which has only a nationwide experience, in RAC we have a strong international connection since Unidas is the master Brazilian franchisee of the largest Car Rental group in the world, Enterprise (franchiser of the Alamo, Enterprise and National brands), with the possibility to access the best segment practices. The RAC business is more susceptible to economic dynamic changes, the periods of higher activity of this market are usually in the fourth and the first quarters of the year, especially in the last two weeks of December and in January and February.

Used Cars: It is a complementary business to those of Fleet Management and RAC where the Company sells the vehicles of its demobilized fleet after the termination of the contracts, through two channels: retail (own and franchised stores) and wholesale (resellers, dealers and auctions). Our business model allows us to operate in this market offering differentiated products, vehicles with low mileage, few years of use, with constant maintenance and provenance that is guaranteed. The car resale seeks to enable our fleet renovation and the reduction of our maintenance and depreciation costs. Through retail sales, which is our main sales channel, the Company has increased the average value of the vehicles sold, not using intermediaries and reducing the cost of depreciation of its fleet in the Fleet Management and RAC businesses. This was possible due to some of the Company’s competitive advantages, such as correct pricing processes, high vehicle mix, the quality of sales processes, the leading position in training and qualification of our sellers, adequate depreciation and years of sales experience of vehicles coming from Fleet Management and RAC.

In the chart below, we present the evolution of the number of stores by type: