Australian vehicle leasing company, SG Fleet Group Ltd (ASX:SGF) has acquired UK-based Motiva Group Ltd for £12.4 million (which is AU$20.7 million at today’s exchange rate).
Motiva provides short term rental and fleet management services. It also has 50 staff, 4300 vehicles in its fleet, and is located near the Manchester and Liverpool economic hubs.
The Motiva acquisition comes after SG Fleet’s recent acquisition of another British company called Fleet Hire in August.
SG fleet says that, by integrating Motiva into its business, it will enter the “Top 20 segment” of the UK market.
SG Fleet posted a net profit of $47 million at 30 June 2016.