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

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee