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Bridle Vehicle Leasing goes on the acquisition trail

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26 February 2015

Alan Carreras, Bridle Vehicle Leasing
Alan Carreras, managing director of Bridle Vehicle Leasing, says the group of companies is on the look out for growth

Alan Carreras, Bridle

Alan Carreras , Bridle Vehicle Leasing

“My background is in the car industry. I was brought in four years ago to run the leasing operation. When I came in it was a lifestyle business. But now it rivals the insurance side for income.”

Carreras has experience in fleet management and leasing; previous appointments include Covase, OVL and Benchmark Leasing.

As well as running Bridle Vehicle Leasing, Alan also sits on the boards of the Bridle associated brokers: Vesource, Compass Contract Hire and Industrial Vehicle Leasing.

The leasing companies are also part of Bridle Insurance, which currently has a fleet of 18,000 vehicles insured.

BRIDLE Vehicle Leasing is on the look-out for new businesses – and is close to a further acquisition.

The Witney, Oxford-based leasing company, part of Bridle Insurance, was busy with the cheque book last year, buying up Compass Vehicle Leasing and Industrial Vehicle Leasing – see our story Bridle Vehicle Leasing acquires Industrial Vehicle Leasing .

But the ambitious group of leasing broker firms – which also includes Vesource – isn’t stopping there.

“We think consolidation is the future,” explained Alan Carreras, managing director, Bridle Vehicle Leasing.

“Our group of companies is interested in growth, and we’re not satisfied with organic growth, so we have to find other methods to meet that ambition.”

Carreras says that the opportunity lies with many of the ‘lifestyle’ brokers for whom FCA compliance is looking a step too far.

“We are not interested in asset-stripping, though.

“The businesses we buy are valuable businesses that have clients of similar style to ours, demanding high levels of service and who also want fleet management services. So the directors remain on board to ensure the same standards continue.”

Carreras says the opportunity for Bridle as a group came not only from the investment as a chance to grow the business, but also as an opportunity for the insurance side of the business.

“We’ve turned down more opportunities than we’ve taken up,” adds Alan.

But expect to see the company add to its growing portfolio of leasing brokers in 2015.

 

 

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Ralph Morton

Ralph Morton

Ralph Morton is an award-winning journalist and the founder of Business Car Manager (now renamed Business Motoring). Ralph writes extensively about the car and van leasing industry as well as wider fleet and company car issues. A former editor of What Car?, Ralph is a vastly experienced writer and editor and has been writing about the automotive sector for over 35 years.

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