Fleet News

AA buys Prestige Fleet Servicing for £11m

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The AA has bought Prestige Fleet Servicing, a technology-led supplier of service, maintenance and repair (SMR) services to fleet and leasing companies, for around £11 million.

It said that the Prestige acquisition gives it a “strong and profitable platform” to strengthen its presence in SMR, working with fleet and leasing companies, and supporting OEM partners. The acquisition will also deliver synergies, it said.

Simon Breakwell, AA chief executive officer, explained: “The acquisition is in line with our strategy to differentiate the AA through innovation and digital platforms.

“Putting service, innovation and data at the heart of everything we do is key to our strategy. 

“Prestige Fleet Servicing is a profitable and growing technology-led supplier of servicing, maintenance and repair and related added-value services, primarily to vehicle fleet and leasing companies and other large vehicle providers.

“This acquisition will allow us to take a strong operational model, supported by technology and utilise it across our own systems and the Prestige system to create a customer journey that is market leading.”

Prestige, which undertakes more than 120,000 SMR interventions a year, is based in Melton Mowbray and will continue to be run by the existing management team.

Its services are delivered via a network of some 400 independent garages with agreed labour rates.

The process is substantially automated through its proprietary software platform, UNITY, which provides real-time interfaces with a number of information sources such as parts suppliers, industry bodies and Government databases.

UNITY allows customers to book their vehicles in directly to service centre availability in the right place with the right technical capabilities. More than 80% of bookings are automated.

Validation of parts costs, labour rate, labour repair times, oil costs and quantity are also automated.

All garages are UNITY and Epyx 1link enabled to ensure control of parts/servicing processes and consistency of pricing.

The service will be offered to current AA serviced fleets not using the Prestige network.

The AA said it already works with more than 60% of the fleet market and many AA customers utilise the Prestige network already.

 

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