The Leasedrive Group has been ranked 36th in the latest The Sunday Times BDO Profit Track 100, now in its 15th year, which ranks Britain’s 100 private companies with the fastest-growing profits over the last three years of available audited accounts.
It was the second ranked company in the south east of England region. The UK’s largest independent privately-owned vehicle management group made its first appearance in the league table in 2011 and last year was placed 46th.
Roddy Graham, Leasedrive, said: “Our third appearance in The Sunday Times BDO Profit Track 100 recognises our rising profitable growth achieved in a highly competitive market sector.
“This important recognition by The Sunday Times BDO Profit Track 100 independently endorses HgCapital’s recent majority investment and supports the European sector-focused private equity investor’s view on the management expertise and capability within our business. As always this accolade would not be possible without the support of all of our excellent people who constantly strive to deliver the highest quality bespoke vehicle management service.
“For customers of our vehicle management division, the company car remains popular as both an essential business tool and as a perk to attract and retain the best people in the war for talent. Car salary sacrifice schemes are also highly popular as a tax efficient way of providing a new company car and eliminating the ‘grey’ fleet risk. Meanwhile, our rental management division is experiencing unprecedented growth.”
The Sunday Times BDO Profit Track 100 citation read: “This vehicle management firm was created in 2007 through the merger of Leasedrive and Velo. It leases 42,000 cars and vans to blue-chip companies across Britain such as Marks & Spencer, and advises on fuel efficiency and taxation. After buying rival Masterlease in 2011, managing director David Bird, 55, saw profits lift to £13.4m in 2012. It is integrating its operations with Zenith, a competitor also owned by HgCapital.”