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Zenith Vehicle Contracts

Founded in 1989, Zenith Vehicle Contracts is an outsourced contract hire and fleet management provider, targeting clients with a typical fleet size of 100 to 1,000 vehicles.

At the time of the investment, Zenith Vehicle Contracts managed c. 17,000 vehicles.

Zenith Vehicle Contracts has built up a strong market share, growing fleet size from c. 17,000 vehicles to over 27,000, with future growth built in from new customer wins.

VALUE CREATION

During Equistone’s ownership, Zenith Vehicle Contracts acquired Provecta Car Plan Limited and profits more than doubled.

THE EXIT

The sale to management in a deal backed by Morgan Stanley Private Equity yielded a return of 2.7x and an IRR of 35%.

 

* Gross Profit.

Durée d'investissement

juin 2007 - sept. 2010

PAYS

UK

SECTEUR D’ACTIVITE:

Support Services

Evolution du chiffre d'affaires

£9m / £17m *

Nombre d'employés à l'acquisition

90

TYPE D’INVESTISSEMENT

Secondary MBO

Opérations de croissance externe

Provecta
mai 2008