BT Fleet Solutions takes to the open road as it leaves BT Group for equity investor

BT Fleet Solutions
Equity investment company Aurelius Equity Opportunities is planning to buy commercial fleet management operator, Solihull-based BT Fleet Solutions from BT Group Plc. Both parties have agreed not to disclose the purchase price and the transaction is due to complete in H2 2019.

BT Fleet Solutions offers  fleet management services through its network of 65 in-house garages, 500 partner facilities and more than 50 mobile technicians. Established in 2002, it employs around 950 staff around the UK, and manages more than 80,000 vehicles for more than 26 blue chip customers across diversified industries. The latest published statutory accounts for 2017/18 for BT Fleet Ltd show revenues of £209.5 million and its industry leading position leaves it well placed to capture the high levels of growth available in the UK’s fleet management market.

The sale of BT Fleet Solutions is part of with BT’s ongoing transformation programme to focusing more  on converged connectivity and services, with further investments in both its fixed and mobile networks via programmes such as full fibre and 5G.

In the coming months, Aurelius’ operational task force will support BT Fleet Solutions to become an independent entity. The company is expected to be rebranded within the next 12 months.

Aurelius will work with BT Fleet Solutions’ existing management team to drive business growth.

Dr. Dirk Markus, Group-CEO and Chairman of the Executive Board of Aurelius , said: “This acquisition is a further example of Aurelius’ specialism in acquiring non-core divisions that have been carved out of large corporates, and are in need of operational support to transform them into standalone, sustainable organisations.

“BT Fleet Solutions is a strong business with a high calibre customer base. We look forward to working with management to ensure a smooth transition in the coming months, positioning the company as an independent entity that is ready to capture the significant growth opportunity available in the UK market.”

Gerry McQuade, CEO of BT’s Enterprise unit, said: “Over the past five years, our Fleet business has grown into a multi-award winning market leader in the sector. The unrivalled expertise and experience of its people in managing and maintaining complex fleets has been key to this success. With BT’s renewed focus on investing in the best fixed and mobile networks in the UK, and with BT Fleet Solutions well positioned to achieve further growth, the time is right for the business to find a new home.”