Fleet News

Lex Service takes 50% stake in Tranman

LEX Service has bought a 50% stake in fleet management software company Tranman Solutions for an undisclosed sum, in a move it hopes will help its tender for a 10-year contract with the Ministry of Defence (MoD). Tranman recently won its largest yet order to provide logistics support to the British Army and Lex is currently on a two-strong shortlist to win a huge 10-year MoD contract for 10,000 non-combat 'white fleet' vehicles.

By buying a stake in Tranman, Lex hopes to broaden its appeal to the MoD as well as other customers. Lex Service group managing director Peter Harris, said: 'With our investment in Tranman we are broadening the range of services we offer to customers and enhancing our capability in important strategic areas, in particular the MoD.'

The deal gives Lex the option of buying the remaining 50% stake over the next two years at a price to be determined by Tranman's financial performance. Tranman focuses primarily on supplying public sector and utility fleets in the UK and is developing its activities overseas following the appointment of distributors in Australia, South Africa and the Middle East.

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