Australia’s SG Fleet Acquires UK-based Contract Hire Provider
SG Fleet Group Limited has acquired Motiva Group Limited, a UK-based provider of contract hire, short-term rental and fleet management services. This follows the Fleet Hire acquisition, which was announced in August 2016.
Motiva currently has a staff of 50 and a 4,300-unit fleet under management, according to SG Fleet. With the acquisition, SG Fleet will have more than 13,000 units under management in the UK and more than 130,000 vehicles worldwide.
“The acquisition gives us further scale in areas such as contract hire, short term hire and fleet management, adds expertise in the light commercial vehicles segment, and creates a larger customer base for our salary packaging products,” a company spokesman told Automotive Fleet in an e-mail interview.
SG Fleet operates in three markets: Australia, New Zealand, and the UK. Noldus said that there are currently no plans to expand in other European or Commonwealth markets.
“We of course keep an eye on development and opportunities elsewhere, but Europe outside of the UK is not a focal point at this stage,” the company spokesman said.
SG Fleet is paying £12.4 million (U.S. $15.6 million) for Motiva, which consists of three operating units: contract hire services under the main Motiva brand; M-Way Vehicle Rentals, the rental division; and Motiva Direct, which operates the company’s fleet management services.