Zenith buys Provecta
15 May 2008
Author: Tom Webster
Zenith Vehicle Contracts has completed the purchase of the employee car ownership (ECO) company Provecta.
The deal is for an undisclosed sum and sees the creation of a fleet of around 26,000 vehicles.
The merger gives Zenith, a fleet management firm, a base in the south of England in Reading. They will continue to operate from their existing office in Leeds.
The Provecta name will remain in place for the time being and its customers can expect "business as usual" with the company, which only redesigned its image and moved head office in March.
Some senior Provecta employees will take up new roles on the Zenith board as well as becoming major shareholders.
Nick Sutton, executive chairman and founder of Provecta, now becomes group development manager for Zenith.
"With the changes taking place in the wider market, both Zenith and Provecta customers will see significant value enhancement from our combined strengths," said Sutton.
Andrew Cope, chief executive of Zenith added; "Provecta is an excellent business and is widely recognised as the UK's foremost expert in delivering ECO schemes."