Corporate Fleet Services
Following the strategic acquisition of rival fleet services
provider, Inchcape
Automotive Ltd in June this year, Camden
Corporate Fleet Services (CCFS) has further increased its
profile and operational capacity with a £27m investment by Barclays
Private Equity.
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Organised by newly appointed chief executive Ian Wardle, CCFS
was sold off-market in a management buy-in, which should see the
company grow at a higher rate than the projected market growth of 3
per cent.
“It was a deal that I originated with existing shareholders, so
it was a business that was in a position that could be sold. And I,
as a management buy-in candidate knew the business, the
shareholders and the sale process and introduced them together,”
Wardle said.
“Camden is in a position to go forward to the next stage of
development.”
Established in 1996, CCFS provides courtesy cars to large fleet
customers, including car rental firms and insurance companies, as
well as a range of services such as vehicle delivery, taxation,
registration, remarketing and refurbishment. It also has a range of
used car dealerships across Ford, Vauxhall, Nissan and Renault
marques. Wardle said that CCFS will add more franchise marques to
strengthen its dealership side, with the enhanced funding.
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By GlobalDataCCFS’ buyout of Inchcape Automotive saw it grow its fleet
services by ten-fold and Wardle expects BFE’s contribution to “take
CCFS forward to the growth curve.”
