TraXall International announced the acquisition of Fleet Logistics Group from its shareholders Volkswagen Financial Services and TÜV SÜD for an undisclosed sum.
The combination of the two groups will create Europe’s largest independent mobility and fleet management provider. The new entity will have around 400,000 contracts under management. Its client portfolio includes many of the most prestigious fleets in the industry, in both local and global markets. The completion of the transaction is subject to approval by the relevant regulatory authorities.
Ross Jackson, Traxall International
Ross Jackson, CEO of TraXall International, said:“We have long-standing respect and admiration for the Fleet Logistics business and its people. We are also delighted to be able to announce this deal today, which will bring together the two market leaders.
“This is a ‘great news’ story for our combined people and our customers. While we remain independent businesses for now, we expect the future synergies, investment plans, and increased global footprint from this deal. This will deliver even greater value and service for our customers wherever they are in the world.
“Market dynamics, economic, and geo-political issues are increasingly destabilizing TCO. The unique controls and stability that TraXall International and Fleet Logistics bring will continue to drive efficiencies. Moreover, this will sustainably protect our customers’ cost bases and strategies.”
Steffen Schick, Fleet Logistics Group
Steffen Schick, CEO of Fleet Logistics Group added: “We are thrilled to work with our new colleagues at TraXall International. Together, we aim to bring a whole new level of innovation to fleet and mobility management.
“I sense there is an overwhelming willingness to identify the best of both worlds and take it to the next level. Moreover, this is what the market is expecting from us and the whole Fleet Logistics team will embrace this opportunity.”
TraXall International and Fleet Logistics will be in a unique position to shape the future of outsourced mobility management. They also aim to achieve this by creating actionable insights on mobility offerings, launching innovative services, and keeping mobility costs under control.
