CLM Fleet Management has confirmed that it is now an independently-owned business, following the completion go its management buy out (MBO).
Formerly part of the Maxxia Group, fleet management specialists CLM is now owned by a management team consisting of CEO John Lawrence, CCO Andy Short, and CIO Andrew Beard. The deal comes after the team negotiated a deal with Maxxia’s backers, the McMillan Shakespeare Group.
The buy out has been achieved by the trio, with external investment from Knowles Fleet’s Colin Knowles, and Gareth Shaw, who was previously at Maxxia and who now joins CLM Fleet Management as CFO.
The new owners of the business say that the acquisition will accelerate growth of CLM to a key provider of independent fleet management services. It will specialise in broker panel funding, vehicle rental, vehicle storage and logistics, and accident management. The Newport Pagnell-based firm includes includes salary sacrifice programme Lifestyle Car Choice as part of its offering, which was developed in partnership with Knowles Fleet.
With investment in our fleet management propositions, technology and people, we believe we can take CLM to the next level and ensure we delight our existing and new customers, develop CLM as a fulfilling and rewarding environment to build a career in fleet management and build a profitable, fast growing fleet management business.John Lawrence, CLM Fleet Management Chief Executive Officer
In 2019 the company moved into new premises to double its vehicle processing capability