Change of ownership sparks Lex rebranding
26 July 2006
Lex Vehicle Leasing has changed its name and revealed a new logo as the fallout from the £227m deal that saw HBOS take complete control of the UK's biggest leasing firm takes effect.
The company has dropped the Vehicle Leasing part of its name to become simply Lex.
"We decided to stay with the Lex name because it is so well known in the fleet arena, but to drop the 'Vehicle Leasing' to reflect our broader business offering," said md Jon Walden.
Lex is now split into four sectors: Lex Corporate dealing with fleets of 20-20,000 vehicles, Lex Partner, which manages relationships with manufacturers, brokers and leasing companies, Lex Individual for PCP or HP schemes, and Lex Service, which deals with the services such as accident management, maintenance, marketing and daily rental for the three other areas.
HBOS took complete control of Lex in May, acquiring the remaining 50% of the business from previous owner Aviva.