ALD Automotive LeasePlan has announced new branding after the two vehicle leasing giants joined forces earlier this year.

ALD completed its £4.1 billion (€4.8bn) acquisition of LeasePlan by a consortium led by TDR Capital in May, bringing together two of the UK’s biggest leasing companies.

LeasePlan was ranked as the fourth largest leasing company in the UK, according to FN50 2022, with a risk fleet of almost 177,000 cars and vans.

ALD Automotive was ranked fifth in FN50 2022, with a risk fleet of almost 145,000 cars and vans.

The combined risk fleet would make the new business the UK’s largest leasing company, with more than 300,000 vehicles, replacing Lex Autolease at the top of the FN50.

Data for this year’s FN50 will be published next month.

The rebranding of the new joint business to Ayvens follows the launch of its three-year strategic development plan in September. 

With the world’s largest multi-brand electric vehicle (EV) fleet out of a total fleet of 3.4 million vehicles managed worldwide, the company says it aims to lead the way to net zero and further shape the digital transformation of the industry.

Its new name of Ayvens will be rolled out in 2024 across the 44 countries where ALD Automotive LeasePlan is present, with the UK adopting the new name from summer 2024.

Tim Albertsen (pictured), group chief executive officer of Ayvens, formerly ALD Automotive LeasePlan, said: “By joining forces, our company is ready to lead the way to the large-scale adoption of sustainable mobility thanks to our size, coverage, service expertise and commitment to innovation.

“As a major player in the mobility sector, we will leverage our power of leadership to shape the future of mobility and achieve excellence.

“This new brand identity will not only allow our 15,700 employees to share a new common identity, but it also reflects how we are changing to accompany our clients’ needs for greater choice, freedom and value and will help us increase market and client awareness, as well as attract the very best talent around the world.”

The company provides full-service leasing, flexible subscription services, fleet management services and multi-mobility solutions to a client base of large corporates, SMEs, professionals and private individuals.