A Scottish commercial vehicle hire firm has expanded by acquiring a rival. This company is apparently based in the north east of England.
TOM Vehicle Rental has payed an undisclosed amount for Transflex.
The deal sees the rival’s Transflex’s 3,500 cars and light commercial vehicles, 80 employees and four depots join the larger TOM business.
According to reports, the Scottish company now has a rental fleet of over 16,000 vans, trucks, trailers and cars.
Additionally, its UK depot network has increased to 15 sites, which makes six in Scotland, four in the south of England, and five in the north.
TOM chief executive Robert Stewart said: “The purchase of Transflex Vehicle Rental comes at the right time and is a strong fit with our strategy to increase our UK market share by adding to our existing network, increasing our fleet size and customer base.
“Transflex has built a strong reputation for providing high-quality vehicles and excellent customer service over many years and this will continue going forward.
“The acquisition enables TOM to continue improving customer service through greater UK coverage and a larger available fleet offering.”
The acquisition comes after a management-led buyout of TOM at the end of last year, which was ultimately supported by private equity firm, Equistone Partners Europe.
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