Fleet News

Elton changes name after buyout

ELTON Vehicle Contracts has changed its name following the takeover by financial services giant Abbey National. After 10 years in the contract hire industry, the Bury-based company is now trading as First National Vehicle Contracts, reflecting its ownership by First National Bank - Abbey National's finance arm - which purchased Elton last year.

Complete with new corporate branding, the new-look operation is currently in the middle of a multi-million investment programme to prepare for expansion and diversification into new sectors in the medium term. The parent company has dedicated funds to invest in both systems and people to enable First National build on its 10,000-vehicle fleet and launch new products.

Managing director Dennis Studholme said: 'Our intention is to marry the enormous financial advantages of being part of First National Bank alongside the speed and energy of our current business teams, in order to create a new market-leading, quality -driven operation within the United Kingdom leasing sector. We are already six months into a two-year multi-million pound capital investment programme that will deliver substantial improvements in our systems capability and see a doubling of customer service staff by the end of the year.'

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