Fleet News

GE surprises industry with BRS Car Lease purchase

GE Capital Fleet Services has again hit the acquisition trail with the surprise purchase of BRS Car Lease. The £120 million deal, with troubled parent company NFC, moves GE Capital near the top of the UK leasing and fleet management leagues with a total fleet across its three businesses of some 83,000 vehicles.

Leamington Spa-based BRS operates a fleet of 12,000 vehicles on either contract hire or fleet management and will retain its individual identity for six months before being absorbed within Leasecontracts, Cochranes and Avis Fleet Services.

Established in 1984 to run NFC's internal car fleet, BRS was subsequently expanded to offer contract hire to third parties. According to NFC's results in the year ended September 30, 1996, the company contributed £10 million to NFC profits on turnover of £49 million.

BRS Truck Rental and BRS Car Auctions, which are also part of the NFC portfolio, do not form part of the sale package. The status of the 37,000 cars BRS and Vauxhall jointly manage under the Vauxhall Master Hire brand also remains unchanged.

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