Nexus Vehicle Rental has acquired the leasing company Adapted Vehicle Hire.
Nexus Vehicle Rental has acquired the leasing company Adapted Vehicle Hire (AVH).
The acquisition, which was for an undisclosed sum, was backed by ISIS Equity Partners which supported the Nexus MBO/MBI in 2008. Senior debt for the transaction was provided by Lloyds TSB Corporate Markets’ acquisition finance team.
Founded in 2005, AVH rents adapted cars and vans to people with disabilities, and has bases in London and Lancashire.
The current deal follows the acquisition of the Vehicle Rental Management division of FMG Support Group in 2008, as a part of Yorkshire-based Nexus’ expansion program.
Neil McCrossan, Nexus CEO, says: ‘Disability discrimination legislation has made it more important than ever for businesses to be able to support the needs of the disabled – and vehicle rental is certainly no exception. We aim to build on the existing AVH offering, adding more locations and more vehicles.’