The firm does not retain the licence for the Masterlease name, and commercial director, Roddy Graham said that it made no sense to have two leasing firm names and not the third, so it has reverted to its original name, but with a new logo and branding.

He said: ‘At the time of our appointment, we stated that the fit between our group and Masterlease UK was excellent and so it has proved. Unfortunately, with the Masterlease name only available to us under licence in the short term the choice of new group name was actually quite straightforward.

‘We have chosen colours which as closely as possible mirror those of the two previous brands. Our recognisable humming bird icon has been replaced by a new “LD” icon.

‘By combining the best elements of both identities, and adopting a new icon, we have endeavoured through the new branding to reassure our customers that they are dealing with a familiar service provider.’