Zenith not done on acquisition trail
02 September 2008
Author: Tom Webster
Zenith Vehicle Contracts could be eyeing further acquisitions after its recent purchase of cash for car specialists Provecta.
"If the right opportunity came along and it adds value then we'll look at it," said Zenith's commercial director Gerry Moon.
He ruled out the prospect of Zenith impulse-buying companies for the sake of it, however, saying: "I've seen too many companies go on the acquisitions trail."
Instead he stressed Zenith will make sure everything is tied up after the purchase of Provecta, which was completed in May for an undisclosed sum.
"If you buy a business it's important you put the time into completing the integration," Moon said.
"We did look at other companies when we bought Provecta, but this was most appropriate. It fitted from a culture and product perspective."
The integration process of Zenith and Provecta will see the two companies cross-selling to each other's customers. Neither plans to cut back in terms of fleet size or services offered.
"It is now the 'Zenith Provecta' business - we see it as one," said Moon. "We will slowly but surely integrate all parts of the businesses. The objective is to operate off the one platform, and that will be Zenith's."