Fleet News

Rental giant reigns in Spain

LIGHT commercial vehicle hire specialist Northgate has acquired Spanish van rental company Record Rent in a deal worth E140 million.

The company operates throughout Spain in the medium to long-term commercial rental market, with 16 depots and a fleet of more than 18,000 vehicles. It has more than 2,300 corporate clients. Northgate bosses say they intend to retain the existing management and operate the Record Rent brand separately from its existing Spanish brand, Fualsa.

Chairman Martin Ballinger said: ‘We are delighted to be announcing a further significant expansion of Northgate in the Spanish market. In its first full year under Northgate ownership, Spanish subsidiary Fualsa’s result has confirmed our belief in the exceptional opportunity afforded by the vehicle rental market in Spain.’

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