Fleet News

Highway on market for second time in two years

UK top 20 contract hire company Highway Vehicle Management is up for sale for the second time in two years. Two options face the Berkshire-based subsidiary of Great Universal Stores, which runs a fleet of almost 20,000 company cars and vans.

The first is a sale as part of GUS's potential disposal of its £1.2 billion finance division. The second would see GUS securitise its debts - effectively sell the debts to an outside party - but keep Highway within the group.

GUS bought Highway in January 1997 for a price believed to be about £115 million, and has since acquired Argos and Experian in billion pound takeovers. These have refocused GUS's business away from finance and towards retail and information services.

Highway Vehicle Management joins Arriva Automotive Solutions, which operates almost 80,000 vehicles, as being officially up for sale as the contract hire and leasing industry continues to consolidate. It is understood three companies - the Halifax, GE Capital Fleet Services and an unknown foreign bank - are leading the chase to buy Arriva.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment


No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee