SG Fleet has completed the acquisition of contract hire firm Fleet Hire.
Australian-listed SG Fleet Group manages a fleet of around 130,000 vehicles across Australia, New Zealand and the UK. 2015 FN50 figures show the company funds around 2,250 vehicles in the UK.
Fleet Hire, which has 60 staff, has around 6,500 vehicles on its books. The combined fleet size would put the company in an estimated 21st place in the FN50.
The senior Fleet Hire team of chief executive officer Graham Hale, chief operating officer Chris Joyce and sales director Nick Poole will remain with the business.
SG Fleet said the acquisition provided it "with critical mass in the attractive UK fleet market and, in combination with our existing local business, will create a profitable platform for future growth".
David Fernandes, SG Fleet UK managing director, said: ‘’Fleet Hire is an ideal fit for our long-term growth strategy in the UK.
“Coupled with the invaluable expertise we have gained by retaining the commitment of the existing management team, we have made a significant stride forward in this market.
“Our Novalease product has already been very successful in the UK salary sacrifice market and, combining it with a more sizeable operation, will make us capable of servicing ever larger customers.”
Fleet Hire CEO Graham Hale said the new deal offered up a number of exciting opportunities for both businesses.
“The integration of the two businesses in the UK extends the range of solutions we can offer our rapidly growing corporate customer base. Combining our forces is a big step forward for both businesses.
“It establishes a genuine platform for the combined business to build on and is a very exciting time for both of us,” he said.