VM Wealth Management Limited has been strategically engaged by ICR Holdings Limited (ICR) to support achieving its business expansion plans.

ICR Holdings Limited is the 100% owner of Island Car Rentals Limited. The engagement marks a deepening of the partnership, which began with a successful capital raise in 2023 that helped to propel ICR’s growth and expansion agenda.

Commenting on the strengthened partnership, Rezworth Burchenson, CEO of VM Wealth Management Limited, noted, “With this renewed and evolving partnership, ICR has demonstrated confidence in VM Wealth’s expertise, market insights, and ability to execute with precision.

“We have noted ICR’s exceptional revenue and profit performance, continued robust growth trajectory, and unwavering commitment to operational excellence to date. This initiative reflects our shared commitment to innovation, expansion, and long-term value creation, and we are excited to see the benefits of our partnership continue to unfold.”

In 2023, VM Wealth brokered a strategic capital raising project that enabled newly registered ICR Holdings Limited to raise J$2.7 billion in funding to facilitate the acquisition of Island Car Rentals Limited and Jamaica Rental Company Limited.

Ryan Parkes, CEO of ICR Holdings Limited, shared that VM Wealth has been tested and proven to be a formidable partner who understands the company’s vision.

“We are quite pleased with our ongoing partnership with VMWM who was very instrumental in our acquisition of Island Car Rentals in 2023. VMWM has demonstrated a firm understanding of our business and is quite aligned with our vision and growth strategy,” Parkes said.

“As we look to expand our brand footprint both locally and overseas, we are excited about deepening our partnership by leveraging their expertise and innovative thinking to help us achieve our medium to long-term goals, with the primary objective being to solidify ICR as a regional powerhouse in the ground transportation industry,” Parkes added.

VM Wealth Management continues to provide tailored investment solutions to empower Jamaican and regional businesses to scale and succeed.