New ownership for BT Fleet Solutions
05 August 2019
Author: Sean Keywood
Fleet management company BT Fleet Solutions is to be sold, it has been announced.
Aurelius Equity Opportunities has agreed a deal to buy the business from BT Group for an undisclosed fee, with the transaction due to be completed during the second half of this year.
BT Fleet Solutions manages more than 80,000 vehicles, has around 950 staff, and offers services through a network of 65 in-house garages, 500 partner facilities and 50+ mobile technicians.
The company is expected to be rebranded within the next 12 months.
Aurelius says it will work with the existing management team to drive business growth, with plans for operational improvement, and investment in key business areas, including accident management and vehicle funding.
Aurelius group CEO and executive board chairman Dirk Markus said: "This acquisition is a further example of Aurelius's specialism in acquiring non-core divisions that have been carved out of large corporates, and are in need of operational support to transform them into standalone, sustainable organisations.
"BT Fleet Solutions is a strong business with a high calibre customer base. We look forward to working with management to ensure a smooth transition in the coming months, positioning the company as an independent entity that is ready to capture the significant growth opportunity available in the UK market.
CEO of BT's enterprise unit Gerry McQuade said: "Over the past five years, our fleet business has grown into a multi-award winning market leader in the sector. The unrivalled expertise and experience of its people in managing and maintaining complex fleets has been key to this success.
"With BT's renewed focus on investing in the best fixed and mobile networks in the UK, and with BT Fleet Solutions well positioned to achieve further growth, the time is right for the business to find a new home.
"I'd like to thank our colleagues in BT Fleet Solutions for all they have done for the business and the wider BT Group and wish them every success for the future."