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Leasing's biggest player, Lex has signed a huge deal to both manage and supply Rentokil Initial's 6000-strong fleet.
Described by industry pundits as the biggest, most important leasing deal of 2007, Lex's MD Jon Walden, speaking exclusively to BusinessCar, said it was the culmination of almost five years of negotiation with the company most well-known for its pest control division.
Lex's exclusive five-year deal includes managing and supplying an initial 2500 vehicles on a sale and leaseback, with all vehicles supplied with full maintenance.
Lex is a multiple award-winner and is current holder of the BusinessCar Award for best service provider in the leasing and fleet management categories.
Walden, who is number 2 in the BusinessCar Power List, said the deal was grounded on the fine customer perception of the Lex brand, whether it concerned the high-tech IT system or its people.
Walden said: "The Rentokil Initial brand is one we see daily on the UK's roads and we are well placed to provide it with an excellent service."
"This agreement comes on the back of a wholesale review of our vehicle fleet requirements in the UK," said Andrew Macfarlane, Rentokil Initial's chief financial officer. "Vehicle management isn't part of our core business so we have decided to outsource the whole operation to Lex, which has an excellent pedigree in the fleet sector. This will allow us to focus specifically on meeting customer needs and improving operational efficiency within the business."
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