May 30th, 2017
On 29 May 2017, ALD signed an agreement to acquire Merrion Fleet the 2nd largest leasing and fleet management company in Ireland. This acquisition forms part of ALD’s development strategy and is an example of ALD’s focus on targeted and value accretive bolt-on acquisitions.
ALD is the operational and fleet management business line of French Bank, Societe Generale the largest providers in Europe. They currently have a direct presence in 41 countries over 4 continents. They have 6000 employees and over 1.4 m vehicles under management.
Merrion Fleet Management Limited are a privately owned company established in 1999. Since that time they have been steadily growing their business and are now the 2nd largest leasing and fleet management company in Ireland with a portfolio of approximately 5,500 vehicles.
David Hurley, CEO of Merrion Fleet, said:
‘We are very excited to join ALD
Mike Masterson, CEO of ALD, said:
‘We are very happy with this acquisition that enables us to expand our coverage in Europe and increase added value for our international customers. We will also bring our financial and innovation capabilities to further develop the Merrion Fleet business’.