Inchcape Fleet Solutions (IFS) has rebranded as Kinto after it was bought by Toyota Fleet Mobility (TFM) last year.
TFM bought IFS for £100 million, completing the acquisition in December 2019, and announced its intention to rebrand the business in February.
As Kinto in the UK, TFM says it can continue its expansion in Europe and the UK’s fleet management and full-service leasing market.
Kinto continues to offer a complete portfolio of fleet management and funding solutions for passenger and commercial vehicles across corporate, public, not-for-profit and SME sectors.
Tom Fux, CEO TFM Europe, said: “The acquisition of IFS was an important milestone for TFM in the European market, and I am pleased that even during these unprecedented times, we have welcomed IFS in to the Kinto family.
“As Toyota transitions from being a car manufacturer to a mobility company, rebranding IFS to Kinto today not only ensures that the business remains neutral, it also supports our strategy to grow our total European business by adding new mobility services to our traditional business models.”
Matthew Rumble, managing director of IFS, added: “With a strong growth plan and investment from our new owners, we are delighted to have this opportunity to grow our business and continue on our exciting fleet and mobility journey under the new Kinto brand.”
Kinto is part of Toyota’s global vision to evolve into a mobility company that provides all kinds of services related to the transportation of people.
Kinto is derived from the Japanese word kintoun or flying nimbus, a cloud which provides on-demand transport for a famous animated character in Japan.
TFM, headquartered in Cologne, Germany is a joint venture between Toyota Financial Services Corporation, headquartered in Nagoya, Japan, and Toyota Motor Europe, based in Brussels, Belgium.
The company was established in 2018 with the aim of developing a European base for future mobility services by providing full-service leasing products. TFM has subsidiaries in France, Italy, Spain, and Portugal in addition to United Kingdom.