Workbench Logo
Workbench Logo
Workbench Logo
Workbench Logo
Workbench Logo

TOM Vehicle Rental acquires Transflex Vehicle Rental

By / 4 months ago / News / No Comments

TOM Vehicle Rental has acquired Transflex Vehicle Rental for an undisclosed sum, with both brands to continue to operate in the UK market.

The combined rental fleet will offer over 16,000 vans, trucks, trailers and cars.

Transflex’s rental fleet of 3,500 cars and light commercial vehicles will join TOM’s, creating the UK’s third-largest light commercial, flexible rental business by assets, with a rental fleet of over 16,000 vans, trucks, trailers and cars, according to TOM. It will also offer a UK depot network of 15 sites, comprising six in Scotland, five in the North of England and four in the South.

Robert Stewart, CEO of TOM Vehicle Rental – which completed a management-led buyout in December 2016 supported by private equity firm Equistone Partners Europe, said: “The purchase of Transflex Vehicle Rental comes at the right time and is a strong fit with our strategy to increase our UK market share by adding to our existing network, increasing our fleet size and customer base.

“Transflex has built a strong reputation for providing high-quality vehicles and excellent customer service over many years and this will continue going forward.

“The acquisition enables TOM to continue improving customer service through greater UK coverage and a larger available fleet offering.”

Transflex managing director Peter Abdale, sales director Gary Henry, operations director Nick Skillman, and finance director Tina Lynas all join the TOM executive management team.

The combined business becomes the third largest light commercial, flexible rental business by assets in the UK with a rental fleet of over 16,000 vans, trucks, trailers and cars, across a UK depot network of 15 sites comprising six in Scotland, five in the North of England and four in the South. Following the deal, both brands will continue to operate in the UK market, serving their well-established and valued customer bases.

TOM completed a management-led buyout in December 2016 supported by private equity firm Equistone Partners Europe.

Robert Stewart, Chief Executive Officer of TOM Vehicle Rental, said: “The purchase of Transflex Vehicle Rental comes at the right time and is a strong fit with our strategy to increase our UK market share by adding to our existing network, increasing our fleet size and customer base.

“Transflex has built a strong reputation for providing high-quality vehicles and excellent customer service over many years and this will continue going forward.

“The acquisition enables TOM to continue improving customer service through greater UK coverage and a larger available fleet offering.”

Peter Abdale, Managing Director of Transflex, added: “We’re delighted to be joining TOM Vehicle Rental, a company which shares both our ambitious growth plans and our resolute commitment to high-quality flexible vehicle rental service. Under TOM’s ownership, the Transflex brand will be able to offer its valued customers access to a UK-wide branch network and an enlarged asset inventory.”

TOM was advised on the transaction by legal firm, Travers Smith (James Renahan, James Parker, Robert Coward and Clare Skinner), with Grant Thornton providing financial and commercial due diligence support. Newcastle-based commercial law firm Muckle LLP (Matthew Walsh and Claire Willcock) advised Transflex shareholders, with support from Muckle’s specialist real estate team.

For more of the latest industry news, click here.

Related Post

Natalie Middleton

Natalie has worked as a fleet journalist for 14 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie works across the magazine portfolio and updates the company websites with daily news, interviews and road test content.