Ogilvie acquires Active Auto Solutions to spearhead rental expansion plans
Ogilvie Group, the parent company of Ogilvie Fleet, has acquired Active Auto Solutions as it pushes ahead with plans to expand its rental presence.
Formed in 2007, Lincoln-headquartered Active Auto Solutions provides claims handling and support services to fleets and clients of commercial insurance brokers and intermediaries across the UK following motor accidents and incidents – this includes providing temporary vehicles following collisions.
With Ogilvie Fleet planning to launch a standalone rental division within the business, the company said it sees Active Auto Solutions providing major synergies with that operation.
The privately owned contract hire and leasing company says it’s recorded significant short-term hire business growth in recent years and in 2016/17 saw turnover reach around £4.5m – up around 27% on the previous 12 months – with an expectation that revenue will top £5m in 2018.
Ogilvie Group chief executive Duncan Ogilvie said: “The contract hire and leasing world is changing and Ogilvie Fleet is diversifying as part of its forward-thinking strategy. The acquisition, coupled with the expansion of our existing daily rental operation, continues to see Ogilvie Fleet become a supplier of mobility solutions with vehicles available on short-term hire or lease from just half-a-day to three or four years.
“Ogilvie Group continues to have ambitions to both expand and diversify and the purchase of Active Auto Solutions is the latest development in that strategy.”
He added: “We will be looking at improving efficiencies within the business, including offering access to our own fleet expertise. Additionally, we will provide access to working capital to enable Active Auto Solutions to further expand and potentially provide the company with its own vehicle fleet.”
However, the Active Auto Solutions team will continue to manage the business on a day-to-day business.
Ogilvie Group bought the business from managing director James Parczuk and fellow founding shareholders Kevin Paul and Rob Wilkinson, who have both retired from the industry.
Following the acquisition, which was made for an undisclosed amount, Active Auto Solutions will sit alongside Ogilvie Fleet within Ogilvie Group and will continue to be led by James Parczuk while the management team is completed by operations director Simon Andrew and finance director Allen Curtis.For more of the latest industry news, click here.