Commercial vehicle hire company, Dawsongroup, has increased its portfolio with the acquisition of former TOM Vehicle Rental subsidiary, Transflex.
TOM Vehicle Rental were placed in administration last month, citing ‘challenging trading conditions’ as the primary reason for its demise. Dawsongroup’s takeover of Transflex will see the firm acquire 3,600 new vans whilst it will also secure 80 jobs in the van rental business across the UK.
Following the acquisition of Transflex, Dawsongroup Chief Executive, Steve Miller, explained:
“The troubles of the TOM Group show how tough the rental business has been for some companies. It is fortunate that our own business has shown strong growth over the years and continues to do so, so we undertake this rescue with confidence. Confidence in the Transflex team, confidence in the quality of their fleet, and confidence in our own ability to put the two operations together to make an even stronger whole.”
He added, “What we will bring to the mix is a strong customer focus, supported by proven management styles and disciplines honed while developing our own hard-earned success over the past 40 years.”
Transflex acquisition signifies considerable growth
With the addition of Transflex vans and staff, Dawsongroup’s van business will see significant expansion across the UK. Van rental, leasing and finance operations of the Milton Keynes-based firm will now expand from nine to twelve locations. Their fleet now includes approximately 9,000 vehicles.
Colin Dempster, Joint Administrator at EY, is handling the winding up of TOM Vehicle Rental Group. Upon confirmation of Dawsongroup’s Transflex acquisition, Mr Dempser thanked the Transflex staff for their patience and support during the takeover.
Mr Dempster said:
“This has been a difficult time for staff in recent weeks and I would like to thank them for their patience and support. We are pleased to have secured the future of the business and the employees and wish them well with Dawsongroup.”