Vehicle hire provider TOM Vehicle Rental has acquired flexible fleet rental specialist Transflex Vehicle Rental for an undisclosed sum.
A total of 3,500 light commercial vehicles and cars, four depots and 80 employees join the larger TOM business, with Transflex executives MD Peter Abdale, sales director Gary Henry, operations director Nick Skillman, and finance director Tina Lynas joining the TOM executive management team. The combined business becomes the third largest UK light commercial, flexible rental business by assets with a rental fleet of more than 16,000 vans, trucks, trailers and cars across 15 UK depots: six in Scotland, five in the North of England and four in the South.
Robert Stewart, chief executive officer of TOM Vehicle Rental, 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.” Peter Abdale, MD of Transflex, said: "We’re delighted to be joining TOM Vehicle Rental, a company which shares both our ambitious growth plans and our resolute commitment to high-quality flexible vehicle rental service.
“Under TOM’s ownership, the Transflex brand will be able to offer its valued customers access to a UK-wide branch network and an enlarged asset inventory." TOM completed a management-led buyout in December 2016 supported by private equity firm Equistone Partners Europe.
