TOM Vehicle Rental has acquired Transflex Vehicle Rental, a specialist in flexible fleet rentals to businesses, for an undisclosed sum.
The deal sees Transflex’s 3,500 cars and light commercial vehicles, four depots and 80 employees join the larger TOM business.
Combined, the business becomes the third largest light commercial, flexible rental business by assets in the UK with a rental fleet of more than 16,000 vans, trucks, trailers and cars, across a UK depot network of 15 sites comprising six in Scotland, five in the North of England and four in the South.
Following the deal, both brands will continue to operate in the UK market, serving their well-established and valued customer bases.
TOM completed a management-led buyout in December 2016 supported by private equity firm Equistone Partners Europe.
Robert Stewart, TOM Vehicle Rental CEO, said: “The purchase of Transflex Vehicle Rental comes at the right time and is a strong fit with our strategy to increase our UK market share by adding to our existing network, increasing our fleet size and customer base.”