What does Bridle Leasing Group now own?
- Automotive Funding Solutions
- Bridle Vehicle Leasing
- Compass Contract Hire
- IVL Leasing
- Total Fleet Services
- Vehicle Funding Solutions
BRIDLE Leasing Group has expanded again with the purchase of Sussex-based Automotive Funding Solutions (AFS).
The buy-out, agreed on Monday 18 January, and due to be completed today (Friday 22 January), sees the Bridle Leasing Group taking 100% equity in Automotive Funding Solutions.
The founder of Automotive Funding Solutions, Richard Mole, will leave the company on the day of completion, while the other directors will remain in the business.
The purchase takes the Bridle Leasing Group fleet to a significant 15,000 total, making it one of the largest broker groups in the market.
“The purchase of Automotive Funding Solutions adds significant volume for us, but not at the cost of income,” commented Alan Carreras, managing director of the Bridle Group.
“AFS are well aligned and experienced in minibuses, serving schools and local authorities in particular, which demands a high degree of management. So we are retaining the main directors to continue working in the business.
“We have been exploring this deal for many months now, so I’m pleased it has come to a successful conclusion.”
AFS also trades as the School Minibus Company.