- Bought out for £2.9bn by consortium of investors
- Group operates more than 1.55m vehicles in 32 countries across five continents
- LeasePlan UK includes other brands Automotive Leasing, LeasePlan Go and Network
- UK operation has over 165,000 vehicles including more than 50,000 commercial vehicles
LEASEPLAN, the world’s largest fleet management and driver mobility company, today announced it has been bought out for 3.7 billion euros, or just over £2.9 billion, by a consortium of long-term investors.
LeasePlan Corporation N.V. said the deal completed the acquisition of LeasePlan from Global Mobility Holding B.V. (a joint venture of Volkswagen Aktiengesellschaft and Fleet Investments B.V.).
The group operates a fleet of 1.55 million vehicles and provides innovative leasing and fleet management solutions in 32 countries and across five continents. The UK division of the company, LeasePlan UK, operates a serviced fleet in excess of 165,000 vehicles, including more than 50,000 commercial vehicles.
The UK business is divided into four brands: LeasePlan, Automotive Leasing (public sector), LeasePlan Go (SME), and Network (franchisees).
LeasePlan’s new 100% shareholder is LP Group B.V., which represents a consortium composed of a group of long-term responsible investors and includes leading Dutch pension fund service provider PGGM, Denmark’s largest pension fund ATP, GIC, Luxinva S.A., a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA),, and investment funds managed by TDR Capital LLP.
LeasePlan CEO and chairman Vahid Daemisaid it marked the start of a new era.
“Our new shareholders fully support our growth ambitions and our long-term strategy to provide high-quality and leading-edge driver mobility solutions to our clients worldwide.
“We have shown our strength as an organisation in seizing opportunities to grow in a changing industry, now managing a fleet of 1.55 million vehicles worldwide. We look forward to continuing to deliver added value to our clients under the new ownership.”
For the successful buyout group Manjit Dale, founding partner at TDR Capital LLP, said: “We are excited to have completed the acquisition of the market leader in global fleet management and driver mobility.
“We strongly believe in the future of LeasePlan, a company with an unmatched portfolio of market-leading assets, loyal clients, a highly dedicated employee base and a sound strategy for the future, under highly experienced management. We all look forward to supporting the management team as they continue their focus on growing the business.”