10/13/2021 | Press release | Distributed by Public on 10/13/2021 04:42
ALD has signed an agreement to acquire Fleetpool, a leading German car subscriptioncompany, and its portfolio of c. 10,000 vehicles. The acquisition will enable ALD to rapidly develop digital car subscription services for partners, employees and private individuals and expand the commercial reach of its mobility solutions across Europe.
Fleetpool is the leading German car subscription company serving private individuals, partners and companies where it operates through a digital subscription platform. Created in 2008 in response to the need for mid-term car leasing services, Fleetpool is currently the only major car subscription player in Germany addressing all customers and channels through multi-brand and white label strategies. Fleetpool provides fully integrated digital access to all-inclusive car subscription packages directly via Fleetpool's mobility web shops. Subscription contracts are managed entirely online, from car selection to credit assessment and e-signing of the contract.
This acquisition will allow ALD to grow its mobility offering with Fleetpool's car subscription expertise for private individuals and companies, as well as OEM partners looking to diversify their distribution models and service offerings. Expansion is envisaged in over 10 European countries by 2026.
This transaction is an example of ALD's focus on targeted and value accretive bolt-on acquisitions and forms part of ALD's growth strategy to deliver flexible, value-added mobility solutions.
The completion of this transaction will be subject to approval from competition authorities.
Tim Albertsen, CEO of ALD, said: "Our continued focus on bolt-on and value accretive acquisitions leverages our positioning in the flexible full service vehicle leasing segment. Fleetpool's proven track-record will allow us to benefit from leading-edge technology and solid mobility expertise to accelerate our ambitions around car subscription services for our clients and partners in Europe. This acquisition will further consolidate our number 1 position in Europe and contribute to our strategic development plan, Move 2025, which aims at strengthening our competitive edge to reach an expected c. 2.3 million total contracts by 2025."
Gert Schaub, Founder and CEO of Fleetpool, said: "Fleetpool is a pioneer in car subscription services and has proven its expertise with an economically successful business right from the start, notably without the need for venture capital. With ALD, we have found the ideal partner to combine and scale our car subscription expertise with the strength of an international mobility solution powerhouse. As an integrated company within the ALD Group, our goal will be to make Fleetpool the number one European provider of car subscription services, in line with our leadership position in Germany. We are also proud to share a common vision of corporate social responsibility, which is a high priority for both Fleetpool and ALD. Cultural diversity and a responsible approach to our environmental impact are essential nowadays and will contribute to making us the winners of tomorrow, both financially and over the long term."