Catalyst advises the Shareholders of Fleet Hire on the sale to SG Fleet
Catalyst Corporate Finance has advised the shareholders of Fleet Hire on the sale of the business to Australian-based SG Fleet Group Limited.
Headquartered in the West Midlands with 60 staff, Fleet Hire is a provider of contract hire, salary sacrifice, short-term rental and fleet management services. The company has been very successful at positioning itself as a “one stop” provider of its full range of services and has seen continued organic growth, recently breaking into the UK market’s Top 25. With a current fleet size of approximately 6,500 units, the business offers traditional corporate leasing for multi-year periods to corporates, as well as Car Salary Exchange, its rapidly growing salary sacrifice product. The company has a range of well-entrenched customers across various industries, from SMEs to large listed entities.
SG Fleet Group Limited is a significant player in the international fleet management and leasing industry, with operations in Australia, New Zealand and the UK. SG Fleet manages in excess of 83,000 assets and is also a leading provider of vehicle salary packaging solutions in the Australian and UK marketplaces.
SG Fleet’s Chief Executive Officer, Robbie Blau, said:
“Fleet Hire is an ideal fit for our long-term growth strategy in the UK. Its acquisition meets all the strict criteria we have set for ourselves in terms of valuation and expansion of customer book and product range. Together with the invaluable expertise we access by retaining the commitment of the company’s management team, we have made a significant stride forward in this market.”
Catalyst was appointed by the shareholders to undertake a strategic review of Fleet Hire and, following this, marketed the business to a small number of potential trade buyers. SG Fleet demonstrated a clear strategic plan for building their UK presence and were able to put forward a compelling proposition. Catalyst then negotiated the deal and project managed it through to completion.
Catalyst partner Richard Sanders led the deal supported by director Emmet Keating and Claire Carpenter. Richard commented:
“This is our fourth Midlands deal since the Brexit vote and again demonstrates our ability to access international buyers. I look forward to seeing the combined business go from strength-to-strength as the new business is able to provide additional offerings to current and future customers.”< Go back to results