Global Vans has acquired car and van leasing broker the LCV Group from Crownhawk Properties for an undisclosed sum.
The deal follows Global Vans’ acquisition of XLCR Vehicle Leasing in January 2024 and will see the LCV Group come together with XLCR and Global Vans to make the Global Vehicle Group.
The group will be positioned as a tech-enabled, SME-focused van and car leasing broker business.
The LCV Group, which specialises in the sale of light commercial vehicles to business customers, is seen as hugely complementary in terms of ethos, customers and skillsets to the existing businesses within the group. Together, the three businesses will share initiatives and know-how, with the goal to ultimately offer customers a wider range of the services they require.
The businesses will continue to have the same management and will retain their existing individual brands and identities. Rod Lloyd, MD of the LCV Group, will work in consultation with the executive board of the Global Vehicle Group, which is led by CEO Andrew Hurst.
The LCV Group, formerly Low Cost Vans, will become a trading style of XLCR Vehicle Management.
The purchase includes TR Fleet, a specialist fleet management consultancy business, which Rod Lloyd completed on in 2023. Lloyd, who is the current chairman of the BVRLA Leasing Broker Committee, will continue in that role until the end of his tenure in October this year.
Andrew Hurst said the acquisition supported the group’s vision to become “the UK’s best and most innovative, tech-enabled, SME specialist broker for LCVs and cars, their electrification, insurance and ancillary products”.
Rod Lloyd added: “I’ve known Andrew and the XLCR business for a long time and when we spoke about the LCV group becoming part of the Global Vehicle Group, I knew LCV would be in safe hands and they would invest to facilitate further growth.
“It’s a fantastic opportunity and LCV will remain as a strong brand within the new group. I’m excited to see what the future brings.”
