Company Overview

Corporate Profile

Unidas S.A. is a company specialized in vehicle rental and management solutions, operating in the segments of Fleet Outsourcing (TF) and Car Rental (RAC), with more than 33 years of experience in Brazil. The Company has a strong position in the Brazilian Fleet Outsourcing market and is one of the three largest companies in the Brazilian car rental market in terms of total fleet. As a complementary activity to its operations, the Company has a business unit for the sale of new vehicles for the demobilization of vehicles previously used in its fleet.

Unidas’ business units are strategically diversified and complementary, with strong synergies among them.

The Company’s expectation is that its business will continue to grow as a result of factors such as:

  • the vehicle-rental industry‘s potential for growth in Brazil due to vehicle renting culture still being incipient among Brazilians;
  • the corporate fleet-outsourcing segment‘s low level of penetration compared with more developed economies;
  • natural barriers to entry for new competitors in its market segment; and,
  • the natural trend toward concentration in its segment, as seen in recent years.

Unidas‘s performance and strategic vision follow the guidelines established by its Board of Directors. With industry experience, highly qualified management, high investment capacity and experience in building and managing relevant partnerships.

Unidas believes that its experience of the Brazilian market and its important position in the fleet outsourcing and Rent a Car (RaC) segments, together with Principal’s know-how of Enterprise and Principal in automotive solutions and the expertise of the Gávea, Kinea and Vinci private equity funds, have put it in a privileged position to take advantage of market opportunities in its operational segments.

Business Units

Corporate fleet rental

Unidas is among the leading companies in the business of corporate fleet rental in Brazil, with the one of the largest fleets of outsourced cars in the country.

Unidas’ business model was developed to enable the Company to offer to its clients the many advantages of its corporate fleet rental activities, such as: (i) reduction of costs in relation to an owned fleet; (ii) greater focus on the part of the client company on its core business; (iii) automotive solutions customized to the needs of the client; (iv) disposition of capital; (v) more efficiency in the processes of fleet acquisition and renewal; and (vi) greater control of the processes of fleet management.

Unidas’ corporate fleet rental business encompasses long-term vehicle rentals (at least 12 months) to corporate clients as well as activities associated with the use of the rented vehicles, such as advisory services in selecting vehicles, vehicle maintenance, contracting of insurance with insurance companies or through insurance brokers, 24-hour emergency customer assistance throughout Brazil and temporary replacement of vehicles that are out of service, among other activities relating to fleet management and administration.

The Company’s corporate fleet rental activities comprise three macroprocesses: implementation, services management and sale of vehicles. Unidas currently operates 34 Advanced Offices in the Fleet Outsourcing segment.

Car rental

Unidas car rental network has a fleet of about 29,433 cars with a diversity of class and types, across its owned and franchised car rental stores.

In this business segment the Company serves individuals and executives, traveling on business or leisure, by means of individual short-term agreements (in general, ranging between one day and one month).

The Company conducts its car rental activities by effecting direct sales to corporate clients, travel agencies and travel operators, which are complemented by Unidas’ franchising sale network. In relation to individuals, Unidas’ sales organization comprises owned and franchised branches, a toll free reservation center and a website. Additionally, the Company supplies replacement cars to insurance companies and car manufacturers in case of a claim or use of warranty, respectively.

Unidas’ believes that the car rental business will experience a natural process of concentration (where fewer players are expected to have greater market shares) in the next years, as took place in the U.S. and European markets, caused by a need for increased economies of scale by major players in the car rental business in view of their investment capacity and operational efficiencies.


To complement Unidas’ car rental activities, and in order to increase the coverage and the pace of expansion of the Company’s network in Brazil, it has adopted a franchising model as a strategy for growth in this market since the commencement of its operations.

In 2005, Unidas launched the "Franquia Chave na Mão" franchising model, in which franchisees receive from the Company a ready-to-operate branch with at least 25 cars available for rental. This model allowed Unidas to accelerate the expansion of its franchising network.

Under this franchising model, Unidas build the entire facility in accordance with its branch model. Franchisees do not purchase the vehicles that will be used in their operations, but instead rent them from Unidas under agreements with terms similar to those used in the Company’s corporate fleet rental business. This model provides several benefits to Unidas’ franchisees and to the Company, such as: (i) reduction in the investment required on the part of the franchisee to open a franchise; (ii) expedited expansion of Unidas’ network of branches; (iii) greater control by the Company of the standards of franchised branches and their fleets (models, age and mileage); (iv) potential to generate new businesses for Unidas; and (v) the operation of its network as an integrated network with strong business origination capabilities.

Unidas currently has 111 franchised branches spread throughout strategic locations in accordance with its national expansion plan.

The model for opening of new franchises is being revised in order to increase its efficiency.

Used Car Sales

As a complementary activity to Unidas’ operations, in order to permit the continuous renewal of its fleet, the Company decommissions the vehicles formerly used in its corporate fleet rental and car rental businesses. Unidas sells these vehicles through retail and wholesale channels. In the retail channel, which accounts for the majority of the Company’s sales, Unidas relies on a network of 49 branches under the name "Unidas Seminovos". In the wholesale channel, the Company’s sales are made by means of auctions, the exercise by clients of purchase options in respect of vehicles used by them, and sales to intermediary companies selected by Unidas. The Company does not sell third party cars.


The Company Unidas Veículos e Serviços Ltda. was founded on February 27, 1985 when five car rental companies and two investors joined in the city of São Paulo, State of São Paulo, to create a car rental company with 7 branches and approximately 500 vehicles. This Company has since then undergone a number of corporate and control changes.

In 2001, the Portuguese Group - SAG acquired the Company and all other assets and rights comprising the business of Unidas and changed its name to SAG do Brasil S.A. Finally, in 2007, SAG do Brasil S.A. changed its name to Unidas S.A.

On June 2nd 2011, the shareholders of SAG Group and Novinela entered into an investment agreement with the funds Kinea I, Kinea II, Vinci and GIF IV of Gávea Investimentos.

On December 22, 2015, Principal acquired all the common shares held by SAG and Novinela.

On December 23, 2016, Enterprise acquired a 20% interest in Unidas.

On March 9, 2018, the Leasing Company of the Americas "Locamerica" purchased 100% of the capital stock of Unidas.

Unidas S.A. operates Fleet Management and Rent-a-Car (RaC) businesses under the "Unidas" brand. Currently Unidas has a countrywide coverage composed by 162 RaC stores (own and franchise) and 37 Used Cars stores (own and franchise).

In addition to its own operations, Unidas S.A. has two direct subsidiaries and one indirect subsidiary:

  • Unidas Locadora de Veículos Ltda. ("Unidas Locadora"): a subsidiary headquartered in Brazil that operates a rental business (rent-a-car or "RAC");
  • Unidas Comercial de Veículos Ltda. ("Unidas Comercial"): a subsidiary headquartered in Brazil that operates a vehicle trade business in which the clients offer their vehicles as part of the payment of purchases carried out in the Company;
  • Unidas Franquias do Brasil S.A. ("Unidas Franquia"): an indirect subsidiary headquartered in Brazil that operates a franchising business.


A Companhia de Locação das Américas "Locamerica"

The Company is one of the main companies focused on fleet outsourcing to corporate clients in Brazil, in which it owns an 8.1% market share, according to data from the Brazilian Automobile Dealers‘ Association (ABLA) year of 2016. Reaching the first position in number of vehicles in the segment of outsourcing of fleets, with 44,644 vehicles as of September 30, 2017.
click here to access the Locamerica IR website