ALD today announces that it has finalized its acquisition of SternLease B.V., the leasing arm of Stern Group, the Dutch listed market leader in automotive retail, following the signing of an acquisition agreement on 1 March 2019.
SternLease B.V. is the leasing subsidiary of Stern Group with a fleet of c. 13,000 vehicles rented to SMEs and private individuals in the Netherlands. The subsidiary provides leasing services through direct distribution and Dealergroup Stern’s network of 85 local dealerships. On top of the agreement to acquire SternLease B.V., a dedicated distribution agreement has been signed to provide access to this local dealership network for the exclusive distribution of ALD leasing services for SMEs and private individuals.
This transaction strengthens ALD’s SME and Private Lease offering in the Netherlands, positioning the company as the 5th largest player in the market, while expanding the commercial reach of its solutions. ALD in the Netherlands currently manages a fleet of c. 50,000 contracts with large corporates, SMEs and private individuals.
This acquisition forms part of ALD’s development strategy and is an example of ALD’s focus on targeted and value accretive bolt-on acquisitions. ALD’s objective is to create value for its partners and clients through the wide range of services included in the full service leasing offer.
At end March 2019, ALD’s total fleet represented 1.68 million vehicles managed worldwide, including 50,000 thousand vehicles in the Netherlands.
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