Fleetondemand acquires FleetEurope
Mobility technology provider Fleetondemand has acquired Buckinghamshire-based vehicle management company FleetEurope for an undisclosed sum.
The deal will see Fleetondemand accelerate the growth of its Mobility as a Service (MaaS) solutions within the vehicle rental sector, through the provision of its Mobilleo application to FleetEurope’s long-established, blue-chip client base.
The combined business will develop a range of MaaS technology solutions and services for UK and international businesses, in addition to consolidating its existing supplier partnerships with the UK’s major vehicle rental companies, and a wide range of local, regional and specialist rental suppliers.
Customers will benefit from combined access to a vehicle rental fleet of over 600,000 vehicles from 2,200 branch locations nationwide, using the latest version of Fleetondemand’s vehicle rental platform.
The significant deal was funded by Fleetondemand’s current long-term investment partner BGF, which acquired a minority stake in the technology business following a £5m investment last year.
The combined business will be led by an executive board that includes Fleetondemand’s chief executive officer Justin Whitston, non-executive chairman Andrew Cope, chief financial officer Nicola Sharp, operations director Matthew Heald and FleetEurope’s chief operating officer Joe Howick.
FleetEurope’s current chairman and founder, John Yarroll, will retire after 25 years in the business.
Justin Whitston commented: “Bringing the two businesses together was an easy decision in our aggressive growth plan. FleetEurope has been a key business partner since 2012 and has gone from strength to strength in recent years under the guidance of Joe Howick and his experienced management team.
“Both businesses also share very similar core business philosophies and cultures and are renowned for delivering best-in-class customer service and market-leading technology. This acquisition made perfect sense, allowing us to strengthen our existing partnership and fuel our ambitious growth plans.”
Joe Howick added: “This new partnership with Fleetondemand is an extremely positive move that will enhance our existing service offering to customers. We’re experiencing a growth in demand for an all-encompassing mobility solution that allows customers to book various modes of transport, in addition to vehicle rental.
“Our customers will now have access to Mobilleo, Fleetondemand’s revolutionary MaaS technology platform that consolidates all forms of business travel into a single application, including car rental, flights, trains, ferries, taxis, car clubs, hotels, airport lounges and more.
“We’re extremely excited about this new partnership. Maintaining our reputation for delivering outstanding service is our top priority, so It will be very much a case of business as usual for our customers as we bring the two businesses together.”