Vehicle rental supply and service company Nexus is aiming for further growth by expanding its specialist vehicle offering.
Having already recently acquired disabled vehicle provider Adapted Vehicle Hire (AVH), the Leeds-based business says it has spotted a “gap in the market”.
“We bought AVH – a specialist area – and we intend to make that business bigger, but there are other niche areas in the industry where we see a lot of demand,” said Nexus chief executive officer Neil McCrossan.
Remaining tight-lipped about the exact nature of the vehicles involved, he added: “The big major vehicle rental companies are not going to offer these types of vehicles because they’re costly and they can’t get the right level of utilisation.
“However, we see a level of demand that we can capture with the right distribution around the country.”
It is 10 years since the company started life and two years after its acquisition by ISIS Equity Partners for £11 million.
The influx of capital has enabled it to grow, despite the economic downturn, and seen it buy the vehicle rental arm of FMG Support, followed by AVH, while it has access to more than 400,000 rental vehicles, including more than 80,000 commercials.
“It’s a very flexible business model,” said McCrossan. “You can scale up this business enormously without any increase in headcount.”
Effectively acting as an intermediary between rental customer and supplier, the business boasts an impressive IT system called IRIS which streamlines all rental procurement and management processes, and can handle additional revenues without the need for more operators.
“Growth will come organically and through acquisition,” said McCrossan. “We intend to carry on making the business bigger and ensuring it is strategically important to the industry.”