Consortium acquires Leaseplan
23 March 2016
Author: Daniel Puddicombe
A consortium of investors has completed a £2.6bn acquisition of fleet management company Leaseplan, it has been confirmed.
The group - made up of companies including Dutch pension fund provider PGGM, Danish pension funder ATP, investment company GIC, and Abu Dhabi-owned Luxinva - started the buyout last July.
Former joint owners Volkswagen and German banker Friedrich von Metzler's Fleet Investments lined up Leaseplan for a sale in April 2014 but discussions with an unnamed party were terminated and at the time Leaseplan claimed it had no further plans for a sale.
"Today marks the start of a new era for Leaseplan. Our new shareholders fully support our growth ambitions and our long-term strategy to provide high-quality and leading-edge driver mobility solutions to our clients worldwide," said Vahid Daemi, CEO of Leaseplan.
"We have shown our strength as an organisation in seizing opportunities to grow in a changing industry, now managing a fleet of 1.55 million vehicles worldwide. We look forward to continuing to deliver added value to our clients under the new ownership."