The two companies signed the acquisition contract Tuesday, Business Lease Group said in a statement.
Fleet Management Services, set up in 2005, was 78% controlled by investment firm Cylatrea Investments and the remaining shares were held by two of the company’s founders, Laurentiu Bogdan and Daniel Ivan, the latter of whom is also the company’s general manager.
Following the acquisition, Ivan and Bogdan take over as commercial and operations managers, respectively. Philip Aarsman, the commercial development manager of Business Lease Group, was appointed general manager of the company in Romania. Ivan told MEDIAFAX that Fleet Management Services will keep its name and continue its development.
With a portfolio of over 3,000 contracts, Fleet Management Services’ customers include, among others, both local and international companies operating in various industries such as energy, manufacturing, constructions, telecommunications, trade, agriculture and services.
Harm Nijlunsing, Chief Executive Officer of Business Lease Group, said the acquisition of Fleet Management Services is part of the group’s expansion strategy in Central and Eastern Europe, a market which enjoys a fast growth.
Romania is the fifth country in the region in which the Dutch company extended its operations, after the Czech Republic, Poland, Slovakia and Hungary.
Founded back in 1907, AutoBinck is one of the main contenders on the European automotive market. AutoBinck’s business activity consists of vehicle distribution, sales, leasing and mobility management, as well as distribution and sale of car parts and accessories. AutoBinck has 2,000 employees who work at its divisions in Benelux and Central Europe and reported a turnover of EUR886 million in 2013.
Business Lease Group’s portfolio includes over 43,000 contracts.