OC&C congratulates NRG Fleet Services on its sale of a majority stake to Palatine Private EquityDonnerstag, 22. Oktober 2020 | Neuigkeiten
We are pleased to congratulate NRG Fleet Services on its successful majority stake sale to Palatine Private Equity. OC&C provided sell-side support to the business during the transaction process.
NRG provides specialist fleet management services to the commercial vehicle sector. It is made up of two divisions, Riverside Truck Rental (RTR) and Direct Tyre Management (DTM). RTR provides a range of contract and spot hire services to complex specialist HGV fleets, especially in the UK waste industry, including local authorities and commercial waste management operators. DTM operates an industry-leading tyre asset management platform, serving the tyre needs of complex multi-site operational fleets through a technology-led offer backed by the biggest tyre-fitter network available in the market.
NRG employs 280 staff and generates revenues of £90m annually. The acquisition by Palatine will support a continued journey into sustainability, building on the investments already made in electric refuse collection vehicles and further expansion of DTM’s presence in the tyre market. There are also major opportunities for value creation via a buy-and-build strategy.
We are delighted to have supported NRG with this important transaction. OC&C are global leaders in automotive services and logistics with deep experience across the value chain. We have worked with hundreds of clients in this space over a number of decades in an increasingly global context. We are one of the premier providers of transaction advisory services and have a unique proposition in blending this experience with deep sector insights.
For more details on this transaction or OC&C's broader experience in this space, please contact our team.