Investment group Aurelius Equity Opportunities has agreed to buy Pullman Fleet Services from Wincanton, its second deal within the transport sector in two weeks.
Fleet management and maintenance provider Pullman Fleet Services is the UK’s largest independent service supplier with 27 service centres and more than 70 mobile service vehicles. Last year, Pullman reported revenues of £44m thanks to its range of services for HGV and LCV fleet management outsourcing and repair and maintenance. The new acquisition will complement Aurelius’ other fleet maintenance provider, Rivus Fleet Solutions, formerly BT Fleet Solutions, which caters for light commercial vehicles.
Aurelius says it hopes to capitalise on the Doncaster-based firm’s position as the only multi-marque operator of scale for HGVs in the UK with 35 years of experience in the sector.
Pullman has a range of blue-chip customers spanning retail, logistics, industrial and service sectors and will continue in partnership with Wincanton as its preferred supplier for fleet management, repairs and maintenance following completion of the deal.
Dr Dirk Markus, CEO of Aurelius, said: “I am delighted Pullman Fleet Services is joining our portfolio, shortly after we agreed to acquire GKN Wheels & Structures from GKN. Aurelius will empower Pullman to capitalise on the strong market growth potential and develop an expanded service offering, for example in leasing and accident management in the months ahead, alongside our portfolio company Rivus Fleet Solutions.
"Despite the significant uncertainty created by the Covid-19 pandemic, this transaction demonstrates our confidence in the strong position of Aurelius, our ability to transact through downturns, and build a portfolio of companies that will grow and thrive across multiple sectors throughout Europe.”