AIRDRIE-based TOM Vehicle Rental has expanded its presence in England with the acquisition of sector stablemate Transflex – a deal that adds about 3,500 cars and light commercial vehicles to the Scottish company’s fleet.
The price paid for Transflex Vehicle Rental, which is based in Stockton-on-Tees and also has depots in Warrington, Buckingham, and Bristol, was not disclosed.
TOM said the combined business would be the third-largest light commercial vehicle, flexible rental business by assets in the UK with a fleet of more than 16,000 vans, trucks, trailers and cars, across a depot network of 15 sites.
The Scottish firm, the subject of a management-led buy-out in December that was supported by private equity firm Equistone Partners Europe, noted this network comprised six sites in Scotland, five in the north of England, and four in the south of England.
TOM, which posted revenues of £213 million for the year to March 2016, provides vehicles for public and private sector customers.
The Scottish firm, founded in 1991, noted the Transflex deal would see 80 employees join TOM. Peter Abdale, managing director of Transflex, is joining TOM’s executive management team.
TOM chief executive officer Robert Stewart said: “The purchase...is a strong fit with our strategy to increase our UK market share by adding to our existing network.”
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