THE man who founded the leasing company that became First National Vehicle Contracts (FNVC) is behind a new business venture to supply courtesy cars to independent repairers.

Dennis Studholme has joined Aidan Minogue to launch Circle Leasing, which will specialise in leasing vehicles to bodyshops' courtesy car fleets.

Minogue said the business venture was a result of the need for 'a dedicated leasing business solely for courtesy cars. The product is too specialised and therefore requires more dedicated treatments and service levels,' he added.

The two businessmen have been joined in the company by four members of staff: Marc Studholme, Liz Royle, Sonia Casey and John Harding.

Studholme originally formed a contract hire company called Elton Vehicle Contracts that he eventually sold to Abbey National, which rebranded it FVNC.