SG Fleet, a subsidiary of Super Group, has acquired UK-based contract hire, short-term rental and fleet management services company, Motiva, for £12.4m (ZAR213.71m).
The CEO of SG Fleet, Robbie Blau, said that the acquisition of Motiva complemented the company’s current footprint in the UK and was an ideal fit for their growth strategy.
He added: “We will be targeting a seamless integration of the business, taking our UK presence to the next level. We now have the scale, the products and the expertise to establish ourselves firmly in this market.”
Blau said that Motiva would add further scale to their tool-of-trade offering as well as expertise in the specialist light commercial vehicle segment. It would also provide SG Fleet with a broader target customer base and access to a broader panel of funders and funding structures.
This acquisition follows that of Fleet Hire in August this year for £27.5m. Fleet Hire is a contract hire, short-term rental and fleet management services company with a fleet size of about 6,500 units. The acquisition of Motiva builds further on the platform created by combining SG Fleet’s existing UK business and Fleet Hire.
These acquisitions are in line with Super Group’s strategy to expand its international footprint to buffer the company against the uncertain South African economy and emerging market turmoil. The group last year acquired a 75% equity interest in the German niche logistics service provider IN tIME and 100% of novated and vehicle procurement specialist NLC in Australia.
Based in Stoke-on-Trent, Motiva has 50 employees and a 4,300-unit fleet. The company generated profit before tax of £1.75m in its last financial year.
It was announced that key members of Motiva’s management team will be retained by SG Fleet to add further strength and knowledge to its UK team.
Blau further added, “The teams are operating from a combined location and our systems integration is proceeding as planned. We have made good progress with extracting the procurement and disposal benefits available to us. Most importantly, we have received a really positive response from our customers”.
Source: Super Group
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