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AURELIUS Acquires BT Fleet Solutions from BT Group Plc

Misc News - Published on Tue, 06 Aug 2019

Image Source: btplc
AURELIUS Equity Opportunities SE & Co is to acquire industry leading end-to-end commercial fleet management operator, BT Fleet Solutions from BT Group Plc. Both parties have agreed not to disclose the purchase price and the transaction is due to complete in H2 2019. Headquartered in Solihull, BT Fleet Solutions offers a comprehensive suite of fleet management services across all stages of the vehicle life cycle, through its network of 65 in-house garages, 500 partner facilities and 50+ mobile technicians. Established in 2002, BT Fleet Solutions employs around 950 staff around the UK, and manages more than 80,000 vehicles for over 26 blue chip customers across diversified industries. The latest published statutory accounts for 2017/18 for BT Fleet Ltd show revenues of £209.5m and its industry leading position leaves it well placed to capture the high levels of growth available in the UK’s fleet management market.

The divestment of BT Fleet Solutions aligns with BT’s ongoing transformation programme and strategy of focusing on converged connectivity and services, with further investments in both its fixed and mobile networks via programmes such as full fibre and 5G.

This deal represents another example of AURELIUS’ specialism in complex divestment processes. In the coming months, AURELIUS’ operational task force will support BT Fleet Solutions in executing a carve out from BT, ensuring a seamless continuation of the company’s day to day operations, whilst working to position the business as an independent entity. The company is expected to be rebranded within the next 12 months.

Going forward, AURELIUS will work with BT Fleet Solutions’ existing management team to maintain its market-leading position and drive growth for the business. This will be delivered through a range of initiatives, including operational improvement, investment in key business areas – such as heavy goods vehicles, accident management and vehicle funding - and the continued delivery of excellent customer service to clients, including former parent company, BT, and its legally separate Openreach business. AURELIUS will also work with management to identify customer and product expansion opportunities, both organically and through acquisition.

AURELIUS was advised by Deloitte (M&A), Mayer Brown (Legal) and KPMG (Tax). BT was advised on this transaction by Lazard (M&A) and Bryan Cave Leighton Paisner (Legal).

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Posted By : TelecomGuru on Tue, 06 Aug 2019
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