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Leasedrive Velo gearing up for blue-chip acquisitions

Date: 18 May 2010

Independently backed Leasedrive Velo is gearing up for the next stage in its development by looking for acquisition opportunities among struggling leasing firms with a similar high-volume blue-chip client base.

The company has geared up for expansion with the appointment of new chief financial officer Robert Whitrow, who has relevant experience in previous roles, including finance and commercial director of BT Fleet.

"There are a handful of players with a cadre of customers we'd love to look after," said Leasedrive Velo boss David Bird. "The type of organisation we want to look after value their staff and want to see them looked after."

The lease firm, with around 18,500 vehicles under its command, feels it could grow to three times its current size. "We think with the addition of a few people at executive board level we could get the number of vehicles up to 60,000, provided it was a small number of large customers," said commercial director Roddy Graham.