Fleet News

Ex-Leasecontracts directors to run Jacks hire company

A NEW contract hire business - 75% owned by motor dealership group William Jacks and run by former Leasecontracts directors Rod Jeans and Peter Gunter - is due to be launched in July. William Jacks has signed a conditional agreement to acquire 75% of newly-formed business, AutoMotive Strategy, and shareholders are expected to endorse the deal in June.

The new business is owned by Jeans and Gunter, who will become managing director and business development director, with former Leasecontracts financial controller Peter Smith, who will join as finance director in September. They will between them retain a 25% stake in the business, although this is due to be acquired by William Jacks over the next 10 years. A further three directors will be nominated by William Jacks. William Jacks executive director John Adair said the motor group - which specialises in luxury cars - had wanted to add contract hire to its portfolio for some time.

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