Leasedrive Group partially acquired by HgCapital

Leasedrive Group has been 80% acquired by private equity investor, HgCapital.

The fleet group’s management team has rolled 20% of their own investment and equity into the new financial structure.

David Bird, managing director of Leasedrive Group, said: “This new investment, which sees the senior management team retain equity and shareholding, demonstrates the confidence both we and our new backers have in the future of this organisation.”

Andrew Land, a member of the services team at HgCapital, added: “We see real growth potential for the organisation as more organisations recognise the potential of the company car as a recruitment and reward tool in the war for talent.

“The group has built a high-quality [employer] client base, not only by developing technology platforms and innovative products, including salary sacrifice, but also by providing levels of service and support that far exceed industry standards.”