Global Vans has acquired XLCR Vehicle Leasing in a deal to create a car and van leasing ‘super broker’.
The deal comes after Global Vans secured private equity backing from H2 Equity in March 2022 – and Andrew Hurst, CEO of Global Vans, said the duo share the 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”.
The two firms are seen as hugely complementary in terms of ethos, customers and skill set.
Global Vans was founded in 2002 with its head office in Bristol and a second office in Hemel Hempstead. It provides tailored vehicle and funding solutions, supported by well-established partnerships with leading vehicle manufacturers and finance companies.
XLCR is a leading supplier of new and used cars and vans in the UK. It was founded in 2000 and has its head office in Colne, Lancashire. Its tech-enabled approach is focused on delivering first-class customer service. The business says it’s able to consistently offer some of the best deals in the market thanks to its years of industry experience with obtaining big discounts on new and used cars and vans, along with its approved agent status for many major national banks and finance houses.
Existing brands and identities will be retained, along with the management teams. XLCR’s Lee Duerden and Shaun O’Neill will join the executive board of Global Vans, which is led by Andrew Hurst.
Lee Duerden commented: “In March 2022 we watched in awe and admiration as Global Vans secured the private equity backing from H2 Equity, a leading PE firm with an exceptional track record. To be then asked to join them both on their journey, to build the biggest and best SME-focused car and van leasing ‘super broker’ was an opportunity not to be missed. Together, along with our respective teams we have the vision and ability to become a market leader in this highly specialist B2B space.”
