TraXall International has concluded the acquisition of Fleet Logistics Group from its previous shareholders Volkswagen Financial Services and TÜV SÜD.
This acquisition, which was first announced in December 2023, has been concluded after obtaining all necessary regulatory clearances.
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The merger of these two organisations forms one of Europe’s largest independent providers in mobility and fleet management, managing around 400,000 contracts.
TraXall International CEO Ross Jackson said: “We are delighted that the significant acquisition of the Fleet Logistics Group has been successfully completed and we are hugely excited for what the future holds. One highlight for me will be meeting and getting to know our new colleagues over the coming weeks and months.
“The completion of this deal also couldn’t happen at a better time. It is widely reported that businesses are seeing substantial cost increases, particularly across their fleets, as the total cost of ownership (TCO) remains volatile.
“In attempts to counter this, we are seeing our customers (and the wider market) recognising the need to adopt new practices to control costs as it is no longer enough to pull the same levers to create cost improvement.
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By GlobalData“TraXall International and Fleet Logistics remain uniquely positioned to help our customers do exactly this – control costs which have increased in all countries due to widely-reported EV residual value challenges aside from market dynamics, economic and geopolitical issues. The strength of the unique approach and stability, which both TraXall International and Fleet Logistics bring, will continue to drive efficiencies, and sustainably protect our customers’ cost bases and future strategies.”
The joint client portfolio of the newly merged organisation includes numerous prestigious companies operating across both local and international markets.
Fleet Logistics Group CEO Steffen Schick added: “We are thrilled that the acquisition of Fleet Logistics Group has been completed and are eager to shape the future strategy for the combined business. I am very proud of the entire Fleet Logistics team who throughout this process has shown great resilience and determination.”
