Zenith acquires Hambros stake
26/06/1998 in NEWS
The acquisition takes Zenith's leasing and fleet management fleet to more than 4,500 vehicles, with the 500 vehicles under management through Hambros Vehicle Solutions including company cars with housebuilder Persimmon, convenience store group Londis and SG Hambros. Zenith Vehicle Contracts managing director Henry Dean said the deal had occurred because Societe Generale did not want any involvement in the fleet market.
Dean said: 'Hambros Vehicle Solutions has established itself as a first class company and its activities complement our own very well. The deal will enhance our resources and accelerate our growth.' Zenith provided back office functions for Hambros Vehicle Solutions, with the bank providing sales and marketing functions. Both will now be carried out by Zenith.