UK - Lyceum's Velo to merge with Leasedrive Group

Lyceum Capital portfolio company VELO has merged with the Leasedrive Group. The merged entity, Leasedrive VELO, is now the largest independent privately-owned vehicle management group in the UK with a combined vehicle fleet of around 17,500 cars. Lyceum Capital, which acquired VELO in May 2003, continues to be the majority shareholder in the new company, with management also holding shares.