Founded in 1991 and specialising in selling 3-4 year old vehicles, the Carland operation traded some 25,000 units last year and turned over £146 million.
The acquisition will give Interleasing a direct route to the used market for the thousands of vehicles it de-fleets every year as well as offering new growth opportunities in finance and insured products for sister companies MICL, Car Care Plan and On:line Finance.
Interleasing chief executive Len Clayton said: 'The fleet services industry and its profitability are heavily dependent upon the re-marketing of ex-contract vehicles. The opportunity to retail the majority of our ex-contract stock creates massive competitive advantage for Interleasing.
'In addition, whilst our residual value forecasting process is already sophisticated, Carland's retail experience provides an additional dimension of expertise.'