BRIDLE Vehicle Leasing has bought Staffordshire broker, Sprint Contracts, for an undisclosed sum.
The deal was concluded at the end of 2020 and brings a fleet of 1100 vehicles into the Bridle Group, expanding Bridle’s fleet to more than 37,000 vehicles.
The latest acquisition raises the number of broker brands purchased by the Oxfordshire-based broker group to 18 since its initial VeSource purchase in 2010. A busy 2020 also included the purchase of Churchill Vehicle Leasing in February and Kew Vehicle Leasing in October, along with an expanding franchise programme.
We agreed the deal with the shareholders of Sprint some while ago but with the distractions of COVID-19 we concluded at the very end of 2020. And we’re very pleased with the acquisition. Sprint Contracts is the sort of business we like – a good, solid predominantly SME contract hire firm with a high level SMR penetration. The company will continue to operate under its own name for the present, with most of the stakeholders staying on to share their vast knowledge, experience and relationships. However, we expect Sprint Contracts to be integrated within the Bridle brand over the coming weeks.Alan Carreras, sales director, Bridle Vehicle Leasing
Sprint Contracts, with a website listing them as partners of Lex Autolease and LeasePlan, originally started trading in 2002 and operates from premises in Newcastle under Lyme.
Two of the three main Sprint directors – Malcolm Parr and Jason Kelsall – will continue to work under the new Bridle ownership, while Andy Morphet has decided to leave the business.
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.