SG Fleet Group is today announcing it has signed an agreement to acquire the Australian and New Zealand-based business of LeasePlan.
The acquisition will create a $2.5 billion company with a highly compelling fleet management and leasing offering across Australia and New Zealand, and a combined 250,000 vehicles under management.
Each company will remain separate entities until completion of the deal, which we expect to happen between July and September 2021, subject to regulatory approvals.
SG Fleet CEO Robbie Blau commented: “This transformational transaction creates the ability to add scale across operations, funding and procurement activities. Greater scale will also allow us to step up our innovation efforts and create additional value for our customers.”
LeasePlan ANZ currently employs around 430 staff across nine locations in the two countries, managing around 103,000 vehicles across both locations (circa 85,000 vehicles in Australia and 18,000 in New Zealand, respectively).
Tex Gunning, CEO of LeasePlan Corporation, said: “We are very proud of the business we have built-up in Australia and New Zealand, and wish our colleagues every success as part of SG Fleet.”
As the acquisition of LeasePlan is for the Australian and New Zealand entities only, SG Fleet’s UK customers and suppliers will not see any direct change.
Over time, SG Fleet UK customers can expect to benefit from an enhanced products and services range, plus access to additional expertise and know-how from an experienced global business.
SG Fleet UK suppliers may be able to benefit from a wider range of supply requirements.
Any enquiries about this news release should be made to Chris Salmon, Commercial Director of SG Fleet Email: email@example.com