Fleetondemand announces FleetEurope acquisition
02 August 2019
Author: Sean Keywood
Mobility technology firm Fleetondemand has acquired vehicle management company FleetEurope for an undisclosed sum.
Fleetondemand says the purchase was funded by its current long-term investment partner BGF.
According to Fleetondemand, the deal will see it accelerate the growth of its mobility as a service (MaaS) solutions within the vehicle rental sector, through the provision of its Mobilleo application to FleetEurope's established client base.
It says the combined business will create a suite of MaaS technology solutions and services for UK and international businesses, in addition to consolidating its existing supplier partnerships with the UK's major vehicle rental companies, and a wide range of local, regional and specialist rental suppliers.
Fleetondemand says customers will benefit from combined access to a UK rental fleet of over 600,000 vehicles from 2,200 branch locations, using the latest version of Fleetondemand's vehicle rental platform.
The combined business will be led by an executive board including Fleetondemand's chief executive officer Justin Whitston, non-executive chairman Andrew Cope, chief financial officer Nicola Sharp, operations director Matthew Heald and FleetEurope's chief operating officer Joe Howick.
FleetEurope's current chairman and founder John Yarroll will be retiring after 25 years of managing and growing the business.
Whitston said: "Bringing the two businesses together was an easy decision in our aggressive growth plan. FleetEurope has been a key business partner since 2012, and has gone from strength to strength in recent years under the guidance of Joe Howick and his experienced management team.
"Both businesses also share very similar core business philosophies and cultures, and are renowned for delivering best-in-class customer service and market-leading technology.
"This acquisition made perfect sense, allowing us to strengthen our existing partnership and fuel our ambitious growth plans."
Howick said: "This new partnership with Fleetondemand is an extremely positive move that will enhance our existing service offering to customers.
"We are experiencing a growth in demand for an all-encompassing mobility solution that allows customers to book various modes of transport, in addition to vehicle rental.
"We are extremely excited about this new partnership. Maintaining our reputation for delivering outstanding service is our top priority, so it will be very much a case of business as usual for our customers as we bring the two businesses together."