Ogilvie Fleet - Britain’s fastest growing privately-owned contract hire and leasing company over the past decade, according to FN50 research - is expecting further expansion in 2013.
Headquartered in Stirling the home of parent company Ogilvie Group, Ogilvie Fleet, which also has UK offices in Sheffield, Birmingham and Belfast, has defied the recent economic gloom to expand every year in the past decade.
New research reveals that Ogilvie Fleet increased the number of company cars and vans on its books by almost 370% over the 10 years to 2012, according to the annual FN50 analysis of the UK contract hire and leasing industry by industry publication Fleet News.
The data reveals that among this year’s 50 largest UK contract hire and leasing companies, Ogilvie Fleet is ranked 19th with 10,350 company cars and vans on its books.
It is the fourth fastest growing UK contract hire and leasing company over the period 2002-2012, but the most rapidly expanding among privately-owned companies.
In terms of growth Ogilvie Fleet is only beaten by private equity-owned Zenith (488%) and vehicle manufacturer owned Alphabet (BMW Group) 417.3% and Volkswagen Group Leasing 397.5%.
In 2002 Ogilvie Fleet leased some 2,800 vehicles and in the intervening years has seen its fleet size increase every year, rising by 2.2% in 2012.
Unlike many of its rivals which have been in acquisition mode, Ogilvie Fleet’s expansion is due to organic growth.
The FN50 analysis further reveals that the company’s rivals occupying places 17 and 18 in the chart, according to fleet size, have each experienced fleet shrinkage in the past 12 months.
Nick Hardy, sales and marketing director at Ogilvie Fleet, said: “Eight out of 20 of the UK’s largest contract hire and leasing companies saw their fleet size reduce in 2012. Although we experienced modest growth of 2.2% this year, we are well placed to increase our fleet size in 2013.”
The past 18 months has marked a period of significant online investment in fleet management solutions, thanks to a new funding stream with Barclays Corporate.
Additionally, Ogilvie Fleet is in the process of expanding its Northern Ireland operation.
Hardy said: “Successful companies such as Ogilvie Fleet continue to invest despite the economic outlook and we believe that we are now well positioned to further expand with an aspiration for a fleet size of around 12,000 vehicles through organic growth over the next two to three years.”