Reflex Vehicle Hire has acquired Hireway Vehicle Rental in a £20m deal to further drive business growth.

Oliver Waring, founder and chairman of Reflex Vehicle Hire

Hireway Vehicle Rental will now trade under the Reflex brand name, adding 900 vehicles to the total fleet and taking it to around 6,000 commercial vehicles and cars.

Reflex also gains two hire locations in Greater Manchester and Glasgow, increasing its national presence while further enhancing service to its customers.

Hireway Vehicle Rental staff have now joined the expanded business, adding 11 new faces to the Reflex Vehicle Hire team and bringing it to 115 employees.

The deal, which closed last week and has been supported by HSBC, strengthens Reflex Vehicle Hire’s presence in the industry, further positioning it as a leading challenger to much larger competitors in the market. As a result of the expansion, the business anticipates a 19% increase in turnover over the next 12 months.

Oliver Waring, founder and chairman of Reflex Vehicle Hire, said: “Expansion is part of our five-year strategy and we are delighted to have achieved part of our goal a year ahead of schedule. The chance to integrate Hireway Vehicle Rental into the Reflex family was a great opportunity as the two businesses are closely aligned, with a history of family ownership and a dedication to providing the highest levels of service to customers.

“This acquisition unlocks growth in a market where new vehicle supply has been scarce, and it will cement our reputation as the first-choice provider for business customers nationwide as we continue to disrupt the dominant suppliers in the industry.”

Hireway Vehicle Rental was established in 2016, with a focus on customer care and personal service. These mirror Reflex’s own values; since the business launched in 2012, it has been recognised with dozens of industry awards for its customer service, innovative developments and ‘safety first vehicle hire’ ethos, including the title of Innovation in Customer Service at Fleet World’s 2022 Great British Fleet Awards.

Lisa Spong, sales director and a co-owner of Reflex Vehicle Hire, said: “Over the past decade, we have worked in partnership with a wealth of fleet customers to develop the essential services and innovations that keep British businesses moving.

“This acquisition ensures Hireway Vehicle Rental customers will continue to receive the exceptional service they value, while gaining access to industry-leading technology, increased vehicle choice and exciting, customer-focused innovation, which will provide critical support to fleets over the coming years.”