United States-headquartered private equity firm Eli Global has acquired Fleet Assist for an undisclosed sum.

Vincent St Claire, managing director, Fleet Assist.

The acquisition will put Fleet Assist on the expansion road while marking Eli Global’s move into the UK automotive industry.

Cambridgeshire-based Fleet Assist provides supply chain management specialist to the UK’s contract hire, leasing and rental sector and the deal will enable it to accelerate its growth plans and continue to expand.

Managing director Vincent St Claire said: “The culture and ethos of Fleet Assist will remain unchanged, but with greater investment opportunities now available the business will move to a whole new level and further strengthen our relationships with existing customers.

“Fleet Assist already has a number of exciting new products and services in the pipeline that will benefit customers and the senior management team anticipates bringing them to fruition in the coming months.”

Eli Global said it sees Fleet Assist as the cornerstone of its expansion into the sector providing it with the ability to further develop its services and invest in new markets and businesses in the future, and stressed that it takes a long-term view on investments.