Leeds car firm now UK's number one
Leeds-based vehicle fleet management firm Zenith is now Britain's biggest after snapping up a company based in the South of England for an undisclosed sum.
Zenith Vehicle Contracts has acquired Reading-based employee car ownership (ECO) specialist Provecta.
The deal creates the largest independent leasing, fleet management and vehicle outsourcing business in the UK.
It means Zenith, whose clients include BP, Asda, Atkins, Ernst & Young and Persimmon Homes, now controls a fleet of 26,000 vehicles. It also gives Zenith a presence in the South.
Chief executive Andrew Cope described the move as a "very exciting development."
"Provecta is an excellent business and is widely recognised as the UK's foremost expert in delivering ECO schemes," he added.
Under the deal, senior Provecta employees will join the Zenith board as directors and as significant shareholders.
Mr Cope believes the purchase will strengthen Zenith's long-term prospects.
"The most cost-effective solution for fleets in the future will be delivered by fleet providers which have the full range of specialist products and services at their disposal.
"Our ability to deliver a new approach to a company's total transport needs is what makes this deal really exciting."
He said Zenith would be able to advise customers in light of changes to vehicle taxation announced in the Budget and the obligations imposed by the new Corporate Manslaughter Act.
Nick Sutton, chief executive of Provecta, who will join Zenith as group development director added: "Zenith and Provecta customers will see significant value enhancement from our combined strengths.
"The merger means we can deliver a cost-effective one-stop shop for every potential driver in a fleet – whether a company car, ECO driver or cash taker.
Posted: Monday, May 12, 2008
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