Leasedrive Sold to New Management Team
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Leasedrive Holdings UK, based in Crowthorne, Berkshire has been sold to a new management team led by incumbent managing director, Roger Partridge in a transaction valued at £45m. Grant Thornton Corporate Finance acted as advisers. The BIMBO transaction is supported by Bank of Scotland Corporate Finance.
The new senior management team comprises Roger Partridge as chief executive officer, Roddy Graham as commercial director (formerly managing director of Ignition Vehicle Management) and David Bird FCA MCT as chief operating officer (formerly chief operating officer of Shell Auto Finance).
New chief executive officer of Leasedrive Holdings UK, Roger Partridge said: "For more than a decade we have built up and retained a fantastically loyal customer base through high quality service delivery. Our aim is to maintain and enhance our strong position by significantly re-investing in the business and launching an integrated range of product and service innovations. We believe these will set the new benchmark standards for operational and customer service quality in the industry."
"Our new senior management team has to be one of the most experienced in the fleet industry. Through working closely with Roddy and David on this opportunity since last summer, I know that they will bring real added value to the company."
"This transaction heralds a new era in Leasedrive's history. As a company that has been consistently profitable, it promises to be a very bright future for our valued customers and staff."
"I would like to take the opportunity of stating how impressed we have been
by the advice and support provided by Grant Thornton Corporate Finance and how
delighted we all are to have the financial backing of the Bank of Scotland
Corporate Finance. They have both proved invaluable partners in concluding this
transaction."
Leasedrive Holdings UK comprises Leasedrive Limited, a contract hire service provider, and Countrywide Vehicle Management Limited, the UK's second largest short-term vehicle rental broker in the corporate market place.
The company was previously owned by majority shareholders, Brian Sneath and Graham Pay and minority shareholder, Roger Partridge.
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Leasedrive Velo is the largest independent privately-owned vehicle management group in the UK and comprises two main operating divisions.
Leasedrive Velo Vehicle Management
Working in partnership with fleet managers, or delivering a complete outsourced service, Leasedrive Velo offers blue chip clients a range of bespoke fleet management services. Major investments in the finest asset management system and pioneering, flexible, web-based customer service technology have resulted in Leasedrive Velo offering customers a truly world class fleet management service capability.
Leasedrive Velo Rental Management
One of the largest short-term vehicle rental management companies in the UK, with access to an almost unlimited choice of vehicles and locations throughout the country, Leasedrive Velo Rental Management offers a simple and transparent pricing policy with no hidden surcharges. For rentals of 28 days or more, it offers the Stopgap mid-term vehicle rental solution. Rates are substantially reduced compared to daily rental.
The headquarters for Leasedrive Velo is at hi-tech offices at TRL in Wokingham. Leasedrive Velo is the winner of the 2006 Fleet News Award for 'Best Contract Hire/Fleet Management Company' the 2006 GreenFleet Award for 'Leasing/Rental Company of the Year', The 2007 and 2008 Thames Valley Business Awards for 'Business Management Team of the Year' and the 2007 ITM Award for 'Independent Vehicle Management Company'.
For further press information on Leasedrive Velo, contact:
Mr Jeremy Snook
JSPR Ltd
Telephone: 01488 670002
Mobile: 07957 867139
Facsimile: 01488 670008
E-mail: jeremy.snook@jspr.co.uk
Website: www.jspr.co.uk