Error parsing XSLT file: \xslt\FacebookOpenGraph.xslt Leasedrive Velo in the mood for acquisition
Cookies on Businesscar

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive all cookies on the Business Car website. However, if you would like to, you can change your cookies at any time

BusinessCar magazine website email Awards mobile

The start point for the best source of fleet information

Leasedrive Velo in the mood for acquisition

Date: 29 June 2009

Independent fleet firm Leasedrive Velo is on the acquisition trail, according to commercial director Roddy Graham.

Graham claims there are several leasing firms for sale at the moment. "We have said we're acquisitive and there will be opportunities. Some are almost common knowledge," he said.

Graham added that Leasedrive was in the fortunate position not to be worried about vehicle funding thanks to a refinancing deal carried out last autumn.

The deal saw private equity firm Lloyds Development Capital take over from the previous equity partner Lyceum Capital just over 18 months after it supported the merger between Leasedrive and Velo.

Graham continued:?"The business is going quite happily at the moment. We're not feeling some of the challenges the others are. Our funding is secure for the next 12 months.

"LDC are incredibly supportive. They're getting what they invested in and they're committed to the business."