Bridle Vehicle Leasing today announced that is has acquired the majority shareholding in Compass Contract Hire.
The acquisition sees Bridle boost the fleet of vehicles under its control to over 3,000, through its range of funding solutions, backed by some of the largest contract hire and leasing providers in the UK.
Compass directors Ian Jeffery and Phil Page remain in place, along with the team of account handlers and administrators, at their offices in Havant, Hampshire.
Managing director of Bridle, Stewart Donald, said: "Once we’d had an initial conversation with Phil and Ian, it was obvious that Compass was a perfect fit for us.
“Within our Group’s core business, Bridle Insurance, we have an ever expanding portfolio of fleet clients, and currently provide cover for over 15.000 fleet vehicles.
“With our office in Chandlers Ford being so close to the Compass operation, we knew we had to get together.
“As part of our continuing expansion, the new acquisition of Compass Contract Hire will improve the facilities available to our clients, and greatly assist our growth plans.”
Page said: “We are delighted that Compass is now part of the Bridle Group and look forward to expanding on our 22 year history with like- minded professionals.”