The firm has acquired Masterlease France SAS and Masterlease Belgium BVBA from Ally Financial Inc, bringing its vehicle inventory to a total of 31,000 vehicles. The company has said it will offer Masterlease customers its full portfolio of fleet management services.

HPI's global CFO Philipp von Gottberg branded the latest acquisitions as a “milestone” on HPI's path to being represented in all European countries by 2011 and said that these are 'very exciting times for HPI and our growing number of customers and suppliers'.

The takeover was supported by financial services provider Macquarie. 'We are very happy with both takeovers in France and Belgium and look forward to being able to take advantage of further opportunities to participate in the growth of HPI,' Florian Herold, co-head lending Europe, commented on the deal.