International legal practice Osborne Clarke has advised the sellers of FleetEurope, a leading provider of bespoke fleet management, vehicle leasing and vehicle rental services, on its acquisition by Fleetondemand, one of Europe’s most prominent developers of multi-platform Mobility-as-a-Service solutions in the corporate automotive industry.
The deal was funded by Fleetondemand’s existing long-term investment partner BGF, which invested in the technology business last year. The combined business will be led by an experienced board of industry leading executive directors from Fleetondemand, FleetEurope and BGF.
This deal will enable Fleetondemand to accelerate the growth of its Mobility as a Service (MaaS) technology and services within the vehicle rental sector, through the provision of its market leading Mobilleo application to FleetEurope’s long-established, blue-chip client base.
Customers in the UK and abroad will benefit from access to a suite of MaaS technology solutions and the UK’s largest vehicle rental fleet of over 600,000 vehicles from 2,200 branch locations nationwide, using the latest version of Fleetondemand’s vehicle rental platform. The award-winning system currently manages 320,000 rental transactions a year from 19,000 individual users.
Commenting on Osborne Clarke’s support during the transaction Joe Howick, Chief Operating Officer and FleetEurope shareholder said: “Having worked with Osborne Clarke previously I know they bring a unique blend sector insight and technology expertise. The team didn’t disappoint on this high-profile AutoTech transaction either, their seamless delivery across a number of key services and outstanding personal and commercial advice was incredibly valuable to myself and the rest of the FleetEurope team.”
Osborne Clarke Partner and head of the BTG practice group Greg Leyshon, Associate Director Caroline Drummond and Senior Associate Louise Stuart-Buddery advised the sellers of FleetEurope. Other members of the Osborne Clarke deal team were Partners Erika Jupe and Rebecca Tuffs, Legal Director Clare Burman, Associate Directors Victoria Dingle and Claire Bowles, Senior Associate James Law and Associates Helena Zaba and Rhiannon Jones.
Osborne Clarke’s Corporate team is considered a go-to practice for many companies in the transport and automotive sector, working with global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.