Vehicle renter and leaser

Business description

Founded in 2016, this South West Wales-based vehicle rental and leasing business established a large client base by offering ‘no credit check’ rental and leasing of light commercial vehicles and cars to SMEs.

The business enjoys the advantages of this large market while protecting its interests with sophisticated technology that disables vehicles in the case of late or non-payment. This technology was developed by its in-house software team, which also created automated administration software that has driven efficiencies and boosted business profits.

Highlights

Lucrative market
Fast-expanding business – moved to larger premises four times in six years
Well-trained team ready to step up to new, more senior roles
Bespoke software developed in-house drives efficiencies
Excellent reputation and online reviews

Financials

	Turnover (£'000)	Adjusted EBITDA (£'000)
2021 (Actual)	3,029,770	1,841,070
2022 (Actual)	4,526,800	2,490,870
2023 (Actual)	5,533,390	3,100,990

Opportunities

An in-house service centre to prepare vehicles would help reduce overheads and increase margins
Increasing stock and range would help grow business profits
Franchising out software developed in-house could generate further revenue

Prospective purchasers

100% share sale
Business premises will be offered as per existing lease (break clause in two years)
Prospective purchasers will be required to sign an NDA

Reason for sale

Retirement; and lifestyle choices

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