Nexus Vehicle Rental has appointed Jim Faulds as chairman to support the company through its next stage of its growth.
The Leeds-based business says Faulds has established himself as an experienced and successful private equity chairman. Working closely with executive teams, he has supported many businesses to grow and develop across a variety of B2B sectors.
Nexus chief executive officer, David Brennan, said: “We are delighted to welcome Jim to the board and look forward to working with him on our next exciting phase of growth and innovation as the key technology-enabled mobility provider in the UK.”
The business has won numerous industry awards, most recently scooping the Elite London Stock Exchange Group Scale-up Award at the Lloyds Bank National Business Awards.
Tim Dunn, a partner at private equity firm Phoenix Equity Partners, which acquired the majority shareholding of Nexus Vehicle Rental from Bowmark Capital for £142 million in 2018, said: “Jim is an extremely experienced chairman, as well as being a terrific fit with Phoenix and the Nexus team.
“We look forward to working closely with him as Nexus grows its position as a core technology provider in the UK corporate vehicle rental market, and develops new relationships in the global mobility market.”
Faulds said: “I am thrilled to be joining Nexus. David and his team have built a world-class business and I look forward to helping them exploit the exciting potential they have created”.
Nexus offers daily, short, medium and long-term rental with access to over 550,000 vehicles, including 100,000 specialist and commercial vehicles and 50,000 HGVs across 2,000 UK locations.