Nexus Vehicle Rental has broken into a national league table of private companies with the fastest growing profit over the last three years.
The business, based in Yorkshire but operating for clients across the country, has entered the Sunday Times Profit Track 100 for the first time appearing at number 42 recording an impressive average annual profit growth of 70% to £4.6 million in 2011.
Nexus is one of only four automotive businesses to make the table and one of only seven companies across all sectors in Yorkshire.
Chief executive Neil McCrossan and his team acquired the business in 2008 for £11m with backing from Isis Equity Partners and profits have grown consistently since. Growth has been driven by technological innovation and focus on customer service.
The listing is the latest recognition for Nexus which is rapidly changing the face of the vehicle rental sector. It was earlier listed at 30 in the 2012 Buyout Track 100, which ranks Britain's 100 mid-market private equity-backed companies with the fastest-growing profits (EBITDA) over their latest two years of available accounts. The company was also listed in the 2011 Fast Track 100 - a list of the fastest-growing private companies in the UK.
Managing director of Nexus Vehicle Rental, John Ellis, said: “We have invested heavily in developing our innovative proprietary software system IRIS which is a real game-changer in the way corporate vehicle hire is implemented.
“The system has been fundamental to the growth of our business and has been enthusiastically embraced by a growing number of major clients.
“We ensure that technical innovation is allied to outstanding customer service with a strong, highly experienced management team with individuals of industry-leading ability and expertise.
“We believe this a model that will take Nexus forward increasingly as a valued, innovative services provider to clients and deliver continued growth and success.”
Nexus provides clients with access to more than 360,000 vehicles from more than 1,700 locations across the UK managed through a quality supply chain.