Asset management company Aurelius has bought BT Fleet Solutions for an undisclosed sum.
As well as offering fleet management services, the company has a network of 65 in-house garages, 500 partner facilities and 50+ mobile technicians and it employs 950 staff around the UK, and manages more than 80,000 vehicles, including the telecoms giant’s own fleet.
Aurelius said the “divestment of BT Fleet Solutions aligns with BT’s ongoing transformation programme and strategy of focusing on converged connectivity and services, with further investments in both its fixed and mobile networks via programmes such as full fibre and 5G.”
Aurelius added it would support BT Fleet Solutions “in executing a carve out from BT, ensuring a seamless continuation of the company’s day to day operations, whilst working to position the business as an independent entity”, adding that the company is expected to be rebranded within the next 12 months.
“This acquisition is a further example of Aurelius’ specialism in acquiring non-core divisions that have been carved out of large corporates, and are in need of operational support to transform them into standalone, sustainable organisations. BT Fleet Solutions is a strong business with a high calibre customer base. We look forward to working with the management to ensure a smooth transition in the coming months, positioning the company as an independent entity that is ready to capture the significant growth opportunity available in the UK market,” said Dirk Markus, group CEO and chairman of Aurelius. “This deal is a demonstration of our continued interest in the UK market, which presents a number of compelling opportunities for us as a result of the ongoing economic and political uncertainty that has arisen out of Brexit.”