IFC Fleet Services Group (IFC) has bought vehicle rental provider Fownd for an undisclosed sum.

Fownd owner and Managing Director, Paul Tuszynski – with extensive experience in the rental industry – will continue in his current role.

The Fownd acquisition broadens IFC’s rental capabilities, having entered into a strategic partnership with Goodwood Rental in July 2016.

Like Goodwood, Birmingham-based Fownd is a B2B specialist rental supplier of cars, although it also supplies light commercials and refrigerated units.

It provides daily rental services to a variety of corporate clients from SMEs to large corporates, with some flexi-rentals and the provision of multi-term mini-leases as clients require.

Under a phased implementation to ensure the continuity of business, the Fownd back office systems will be gradually migrated over to IFC’s rental platform. However, the brand will continue to have its own identity, web portal, invoicing system and management information reporting structure to maintain its independence within the IFC set-up.

IFC managing director, Paul Talbot, said:

“We have a wealth of knowledge of the rental market and are hoping to bring cost efficiencies and service enhancements to fleet customers through this strategic acquisition. Some of these may include or be met by other fleet-related services that we can offer.

The new purchase continues the recent acquisition trail that IFC, which has around 20,000 drivers under management, began by buying Cambridge-based fleet management services provider, Spectrum Car Scheme Management, in 2014, which increased its managed fleet size by around 20%.

It then formed a strategic partnership with the Goodwood Rental business in 2016 to extend its portfolio of fleet management, mileage capture and vehicle logistics services to leasing companies and corporate fleet customers around the UK.

IFC was first launched by Paul Talbot in 2001 and provides outsourced fleet and associated services to the fleet industry.