Snappy Car Rental provided temporary replacement rental cars to insurance company customers whose cars were out of service due to accident or theft. At the time of Jacobson Partners’ investment in 1994, it was the second largest insurance replacement car rental company in the U.S. Jacobson Partners purchased Snappy in a management-led buyout from Chrysler Corporation. During the period of Jacobson Partners’ investment, Snappy structured and implemented innovative asset backed fleet financing, obtained agreements with national insurers and significantly upgraded customer relation systems. Snappy was sold in August 1997 to Republic Industries. for 2.2x the initial investment in three years.