Fleet News

Expansion plans as Inchcape takes over Eurofleet for £25m

INCHCAPE, the international automotive services group, has become the outright owner of logistics firm Eurofleet.

The expansion is designed to build fleet business and take advantage of potential changes to block exemption.

Inchcape has purchased the remaining 51% stake in the firm after spending £12.3 million buying 49% of the business in December 2000. The firm paid £12.9m for the 51% shareholding, taking the total payment to £25.2m.

Eurofleet provides specialist expertise in the fields of vehicle preparation, refurbishment and transport logistics to both vehicle manufacturers and rental and fleet operators.

It operates from centrally located facilities in Kettering, Corby, Portbury and Scotland, and employs approximately 800 people.

For the year ended December 31, 2000 Eurofleet achieved sales of £44.1m and net operating profit of £5.2m

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