Hitachi Capital has acquired Dutch fleet provider Noordlease, signing an agreement to purchase all outstanding shares and procedures for an undisclosed sum.
Under the agreement, Noordlease became a subsidiary of Hitachi Capital on January 31 2017, expanding its Vehicle Solutions arm further into Europe following a presence in the UK and Poland.
Noordlease was established in 1982 in the Netherlands, and Hitachi Capital said that the acquisition will help it expand from the domestic market and grow further into continental Europe.
For the year ended December 31 2015, Noordlease had approximately 8.4bn yen (£59.2bn) in assets, 8.5bn yen in revenues, and 410m yen in pre-tax profit.
Hitachi Capital hinted at future acquisitions for its Vehicle Solutions arm, saying: “Hitachi Capital will continue to seek further business opportunities for its Vehicle Solutions business in order to expand and achieve systematic growth on a global basis in the future.”