Tyre provider change follows LeasePlan takeover in July

LeasePlan’s decision to significantly alter its UK tyre supply strategy follows the wider company’s takeover earlier this year (at the end of July). Back then LeasePlan Corporation N.V. changed ownership and announced that it had been informed by its previous 100 per cent shareholder (Global Mobility Holding B.V. – a joint venture of Volkswagen Aktiengesellschaft and Fleet Investments B.V.) – that it had reached an agreement with a consortium of long-term investors to acquire full ownership of LeasePlan in a 3.7 billion euro deal.

The consortium is composed of a group of long-term responsible investors including leading Dutch pension fund service provider PGGM, Denmark’s largest pension fund ATP, GIC, Luxinva S.A., a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), the Merchant Banking Division of Goldman Sachs and investment funds managed by TDR Capital LLP.

Vahid Daemi, CEO and chairman of the managing board of LeasePlan commented: “Established in 1963, we have grown to become the world’s leading global fleet management and driver mobility company. Today, our global franchise manages some 1.5 million multi-brand vehicles and provides global fleet management and driver mobility services in 32 countries. The change of ownership announced today marks a new era for our company and will enable LeasePlan to continue our successful journey and focus on executing our long-term strategy and growth ambitions. We remain fully committed to providing high quality and innovative fleet management and driver mobility services to our clients worldwide.”

In 2014 LeasePlan reported that the value of total assets was up 3 per cent to 19.7 billion euros and net profits were up 14 per cent to 372 million euros over the year. The total number of vehicles under management increased from 1.37 million in 2013 to 1.42 million at the end of 2014.