ALD Automotive, the fleet arm of Societe Generale, is involved in discussions with Netherlands-based Stern Groep with a view to acquiring its car leasing division SternLease.
A distribution agreement is also being discussed between both parties. SternLease has a fleet of approximately 12,500 vehicles rented to SMEs & private individuals in the Netherlands and provides leasing services through direct distribution and Stern’s network of 85 local dealerships.
ALD Automotive in the Netherlands currently manages a fleet of around 50,000 contracts with large corporates, SMEs and private individuals. The contemplated transaction would strengthen ALD’s SME and private lease offering in the Netherlands, making the company the fifth largest player in the market.
ALD is a global leader in mobility solutions providing full service leasing and fleet management services across 43 countries. With 6,500 employees worldwide, ALD manages 1.66m vehicles.
The Stern Groep network has more than 100 branches with approximately 2,200 employees, and collectively realises net annual revenue (excluding BPM) in excess of €1bn.
Last October, ALD Automotive has issued a €500m (£569m) green bond to finance the acquisition of low-emission vehicles across its European markets.
ALD said low-emission vehicles – electric, hybrid electric and plug-in hybrid – in its fleet currently number 84,000, around 5% of the total. The lessor is eyeing to grow that number to at least 200,000 by 2020
Last year an event in Bristol co-sponsored by ALD Automotive brought together experts from fleet management, electric vehicles (EVs) and academic research to discuss the potential impact of Clean Air Zones (CAZs) and the wider adoption of EVs.
Last July, ALD Automotive agreed to acquire Spain’s Reflex Renting, a B2B mid-term lease provider.
According to ALD, Reflex’s fleet numbers 2,000 vehicles across Spain. Reflex characterises its offering as “flexible renting”, or mid-term fleet leasing.
It is ALD’s second acquisition in Spain in the past 18 months. In early 2017, it acquired BBVA Autorenting, the 25,000 vehicle-strong leasing arm of Banco Bilbao Vizcaya Argentaria.