Novuna Vehicle Solutions has acquired BNP Paribas Leasing Solutions’ UK contract hire business for an undisclosed amount.
Specialising in truck contract hire services, BNP Paribas Rental Solutions Limited operates a fleet of more than 1,300 specialist vehicles across the UK.
The two firms said the sale would not impact the core operations of BNP Paribas Leasing Solutions UK, nor BNP Paribas Rental Solutions business in France.
The deal complements expansion plans at Novuna, recently rebranded from Hitachi Capital Vehicle Solutions and with a 30-year plus heritage in the UK market.
“This is a special opportunity to continue to grow our business, evolving our specialist fleet services and the talented team who deliver first-class customer services day in, day out,” said Jon Lawes, managing director of Novuna Vehicle Solutions.
“The similarities that exist with the way we do business, our values, culture and customer first approach assure me that this is an exciting opportunity to strengthen our unique capabilities.”
EY acted as lead financial adviser to BNP Paribas Leasing Solutions on the transaction.
