Outside Investment In Broker Sector
WHAT terrific news that Mike Potter has managed to attract outside investment from Fortune 500 company Sumitomo Corporation. It will enable the EV leasing broker specialist to expand the range and depth of services the brokerage provides.
Investment, consolidation – it’s all happening, such as two broker funders hooking up. What will the impact be on the broker sector if ALD and LeasePlan do conjoin? Only beneficial I suspect – and, importantly, leaves the door ajar for new entrants, too.
Stateside consolidation is happening, too, with Donlen (ex-Hertz leasing company) being merged with Wheels, thanks to Athene finance, to create a significant new player in the fleet market with global reach, thanks to alliances with ALD.
Best hold on, then – looks like end 2021/start 2022 has plenty more surprises yet!
Ralph Morton, editor
Key stories this week:
- Sumitomo Corporation invests for growth in DriveElectric
- Automotus adds Fleet Procure integration
- Read the rest of the newsletter here: Broker News, 02 November 2021
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.