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CASE STUDY

LEASEDRIVE

THE COMPANY: LDC played a fantastic role over the


Leasedrive is one of the UKs largest independent privately-owned vehicle management five year period they were invested
group. The business provides a full range of services including fleet management, contract in Leasedrive. Relationships with
hire plus short and mid-term vehicle rentals, and is differentiated by its high level of bespoke the management team were
customer service complemented by industry-leading technology. excellent despite their difficult times
after Lehmans, it really was a
ADDED VALUE:
partnership of the investors in the
In 2008 LDC backed the MBO of Leasedrive. From day one, LDC focused on backing business.
the businesss experienced and proven management team and supporting their
efforts to expand the business's contract hire customer base The LDC role in the acquisition of
Masterlease showed how private
In 2010 the business completed the transformational acquisition of Masterlease UK.
equity can enable organisations to
With LDCs support management successfully integrated the two businesses with the
move faster than conventionally
vast majority of key accounts transferring to the enlarged group. This deal epitomised the
backed companies
advantages of market consolidation with Leasedrive's EBIT doubling.
LDC also assisted the business to drive organic growth, including an increasingly Peter Opperman, Previously NEC,
structured approach to lead generation and pipeline management, coupled with the Leasedrive
addition of new talent into the sales team which has since yielded strong results
In 2013, Leasedrive demonstrated impressive organic growth, securing a major contract
with Mercedes Benz Financial Services UK to provide fleet management for its multi-
marque contract hire business launched as Daimler Fleet Management

OUTCOMES:
Clear strategic business
focus
In 2013, LDC exited Leasedrive and subsequently reinvested in the business in the
same month, retaining an interest as part of a new deal with HgCapital, which acquired 1 acquisition
the controlling stake Major contract win
In 2014, LDC made a further investment alongside HgCapital following their acquisition of Grew market share
Zenith and merger with Leasedrive. The combination creates the largest independent and 53% uplift in turnover
8th biggest vehicle leasing provider in the UK, with a combined funded fleet of more than
Operating profit
50,000 vehicles
increased to 14m
Between our original investment and exit, the growth strategy helped Leasedrives
40m capital gain
turnover increased to 116m a 52% uplift during the investment period. Operating
profit also increased to 14m up from circa 5m since the original investment