What are Solera Holdings’ plans for the deal?

Solera will help CAP to leverage the numerous synergies between its strengths and core data assets to bring benefit across Solera’s global platform. This is intended to enable the rapid development and deployment of solutions that will add unique value to both CAP and Solera customers. Because CAP is such a natural fit for the existing Solera family the intention is to rapidly deliver immediate wins for the customers of CAP and all of Solera’s businesses across the full spectrum of the vehicle lifecycle. The goal is to achieve a full “cradle to grave” suite of risk and asset management tools. Solera will help CAP to expand from its current primarily UK-centric focus across advanced European and other markets.

What will it mean for fleet customers?

International expansion by CAP means that contract hire and leasing companies with an international presence, who have already benefited from CAP for many years in the UK, will have a familiar and trusted partner in other territories. Among the benefits for fleet customers, therefore, will be the potential for greater efficiency and consistency in their operations across different counties. It will also unlock new value from the existing data assets of Solera and CAP with, for example, more granular vehicle identification data. The combination of VIN-specific enhanced specification data, with valuation of specific options will be of great value to fleets. This can give fleets greater confidence to offer options to drivers and build more sophisticated contract hire packages, with reduced risk.

CAP will also receive investment in technological platforms so all sectors will see accelerated development of products designed to bring more confidence for its customers at every point in the vehicle lifecycle. For fleets this will mean an easier experience of sourcing, using and disposing of vehicles.

Will there be any changes to the executive management team?

No. Solera has invested in the whole CAP business. CAP’s quality and growth has been identified as, in part, an achievement of the existing leadership team. Solera will look to ensure continuity and Ian Rendle will remain as CEO.

What will it mean for the business going forwards?

It means CAP can take a truly long-term view because the business now has a permanent home. This will bring tremendous benefit to CAP’s customers because the business will be able to maintain a genuinely strategic focus. What customers will see is an even greater focus on increasing the quality of CAP’s core offering, with the development of more robust technological platforms on which to build class-leading solutions underpinned by the best possible processes. This will be, part, leveraged by the connection with Solera assets where appropriate, which are themselves already among the best. Underlying all of this will be a “business as usual” approach to maintaining CAP’s already strong relationships in the fleet and other sectors.