OC&C supports sale of innovative mobility platform Nexus Vehicle RentalMonday 20 August 2018 | News
Bowmark Capital sells Nexus Vehicle Rental to Phoenix Equity Partners
OC&C Strategy Consultants is pleased to congratulate Bowmark Capital on their divestment of their majority share in Nexus Vehicle Rental to Phoenix Equity Partners for £142m. OC&C supported Bowmark when they initially invested in the business in 2015, were engaged by the Board to provide strategic insight into international opportunities and recently conducted vendor due diligence on exit. We are delighted for Bowmark and the management team on the success they have achieved over the last couple of years.
Established in 1999, Nexus Vehicle Rental connects vehicle rental companies with corporate customers. Its flexible vehicle sourcing is delivered through its unique technology platform IRIS which provides access to more than 550,000 vehicles across 2,000 locations nationwide, with bookings made via desktop or app. It serves the UK’s biggest commercial fleet and recently launched its services into the HGV market.
The transaction is another in a series that we have supported in our automotive services practice, having worked on a wide range of deals in recent years including Autodata, Kindertons Accident Management, RAC, Tusker and Zenith Leasing. We also advise a broad range of corporate clients across the B2B and B2C automotive value chain including vehicle sale/re-sale, rental & leasing, SMR (Service Maintenance and Repair) and automotive insurance.
For more details on this transaction or OC&C's broader experience in this space, please contact: