Equistone-backed TOM Vehicle Rental acquires Transflex

It is the first bolt-on by TOM since Equistone invested in the company in December last year.

The combined business will have a rental fleet of 16,000 cars, vans, trucks, and trailers across a UK depot network of 15 sites, comprising six in Scotland, five in the north of England and four in the south. Both brands will continue to operate independently following the deal.

Managing director Peter Abdale, sales director Gary Henry, operations director Nick Skillman and finance director Tina Lynas from Transflex will all join the TOM executive management team. 

Equistone is invested in TOM via its fifth fund, which held its final close in April 2015 on €2bn.

Company
Established in 2011, Transflex is a light commercial vehicle rental business. Annual turnover reached £16.1m in 2016. Its fleet size increased by 16% to 3,500 last year while its underlying profit before tax climbed 12% to £1.4m. The company's headquarters are in Stockton-on-Tees, with a new branch recently opened in Bristol. It also has branches in Buckingham and Warrington.

People
TOM Vehicle Rental – Robert Stewart (CEO).
Equistone – Tim Swales (partner); Paul Harper (partner).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Portfolio management
• UK / Ireland
• Industrials
• United Kingdom
• Equistone Partners Europe
• Build-up