Ald announces agreement to acquire LeasePlan

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Two of the world’s major fleet management and leasing companies are set to merge following an announcement that ALD has agreed to buy LeasePlan for €4.9 billion. The Society Generale owned leasing company has signed a memorandum of understanding to acquire 100% of LeasePlan from a consortium led by TDR Capital, with closing of the deal expected by the end of 2022 subject to regulatory approval.

The new company, which will be known as NewALD, will be one of the world’s largest leasing companies. LeasePlan operates approximately 1.8 million vehicles in over 30 countries while ALD manages 1.68 million vehicles across 43 countries.

At closing, Societe Generale would own 53% of NewALD, with LeasePlan shareholders holding 30.75%. 

“Today marks the beginning of a new chapter in our history as a first step towards creating NewALD,” commented Tim Albertsen, Chief Executive Officer of ALD. 

“In the context of today’s transformation of the automotive and mobility sectors, which is proceeding at an unprecedented pace, this proposed transaction is instrumental in the creation of a leading global player in mobility. By combining the multiple strengths of ALD and LeasePlan, gaining size, joining forces in digital and creating a leading provider of sustainable mobility solutions, we would transform our industry and be best positioned to deliver even better solutions and value propositions to our enlarged client base.”

Tex Gunning, Chief Executive Officer of LeasePlan, added: “The combined business would be instrumental in moving the automotive industry from ownership to subscription models and zero-emission mobility. By joining forces with ALD, we combine the best talents in the industry with the investment power needed to meet the next generation mobility needs of our customers. From day one, NewALD would be operating one of the largest fleets of electric vehicles and will continue to set the standard for ESG in the mobility industry.”

Ald Automotive and LeasePlan both have significant operations in Ireland. In 2017 Ald Automotive acquired Merrion Fleet Management established in 1999. The business operates over 9,000 vehicles via a team of over 65 staff operating from offices in Sandyford in Dublin. LeasePlan Ireland, based in Leopardstown, Dublin, manages almost 20,000 vehicles with a dedicated staff of over 80 people.