Volkswagen Financial Services is further expanding with the 60 per cent acquisition of Fleet Logistics, Europe’s largest fleet management company operating in more than 70 countries.
According to Volkswagen, the goal is to create a complete range of products and services for the customer in which travel and fleet management are combined.
The completion of the transaction is subject to merger control approval by the relevant antitrust authorities. Both parties have agreed not to disclose the purchase price.
“This strategic partnership enables us to deliver significant added value to our fleet customers. We have resolved to transfer the existing business model to intermodal mobility. To this end, we will be able to offer additional services from the joint venture in the future. We have also agreed to retain the brand neutrality of the vehicle portfolio and the independence of leasing companies,” says Patrick Fruth, CEO Mobility Division TÜV SÜD.
FleetLogistics was founded in 1996. The company employs around 360 people worldwide and operates in over 70 countries. Its clients include large national and international fleet customers. With a total portfolio of around 200,000 vehicles, FleetLogistics is one of the world’s largest independent providers of fleet management services. The spectrum of services is divided into three main areas: fleet management, fleet consulting and fleet reporting.