Leasing and fleet management company SG Fleet has acquired leasing firm Motiva Group for an undisclosed sum.

The buyout follows on from that of Fleet Hire in August, and SG Fleet said its recent purchases will enable it to become one of the 20 largest contract hire businesses in the UK.

SG Fleet said Motiva’s expertise will help it to improve SG’s LCV and daily rental offerings in the future.

Managing director of Motiva Group Peter Davenport will remain with the business, as will group sales director, Pete Wright, and group financial controller, Matt Hill.

According to SG Fleet, the three senior members of Motiva’s management team “will add further bench strength and knowledge to SG Fleet’s team”.

“Motiva is an excellent addition to our UK operations. It brings further skills in the specialist light commercial vehicle segment and daily rental operations as well as an increased footprint in the contract hire market,” said SG Fleet’s managing director, David Fernandes.

Davenport welcomed the buyout and investment it brings to Motiva. “SG Fleet’s strategic plans in the UK presented an exciting opportunity for the team at Motiva and will add value to the service proposition for our customers,” said Davenport.