ALD’s €4.8bn acquisition of LeasePlan completed
The news that ALD was acquiring LeasePlan was first announced in January 2022. In fact, talks on the deal commenced in October 2021, culminating today with the news that €4.8 billon acquisition has been completed.
Their combined worldwide managed fleet will now number a massive 3.31 million vehicles. They currently have 15,700 employees worldwide but now the process of integration must begin.
The French bank Societe Generale will remain the long-term majority shareholder of ALD, with 52.6 per cent of the capital. LeasePlan was sold to ALD by a consortium led by TDR Capital.
As a result of the acquisition, ALD Automotive has just announced local management changes. Tim Albertsen, chief executive of ALD Automotive | LeasePlan, has appointed Sharon O’Buachalla as country managing director, effective immediately.
O’Buachalla has played a pivotal role in guiding and driving the strategic direction of LeasePlan in Ireland. She was initially appointed managing director of LeasePlan Ireland in 1997. Previously, O’Buachalla – coming from a motor trade background – set up the leasing wing of Fleet Management Services in 1989 which was later acquired by LeasePlan.
As the managing director of LeasePlan Ireland, O’Buachalla assumes a pivotal role in guiding and driving the strategic direction of the company. Her contributions to the automotive industry have earned her widespread recognition. She continues to be a driving force in the company, spearheading its vision of being at the forefront of innovative mobility solutions.
According to its website, LeasePlan Ireland manage in excess of 21,500 cars and vans. It employs 100 dedicated people.
ALD Automotive Ireland has over 24 years’ experience in the Irish market. The business was established in Ireland as Merrion Fleet Management Limited in 1999 and was acquired by Europe’s largest leasing company, ALD Automotive Group in 2017.
The business has also grown to become one of Ireland’s largest fleet management companies with a team of over 65 dedicated staff operating from a purpose built facility in Sandyford, Dublin. According to its website, ALD Automotive Ireland has over 9,000 vehicles under its management.
The ALD Automotive acquisition of LeasePlan has been approved by both the European Commission. To address the Commission’s concerns, ALD divested its operational leasing business in Ireland, as well as in Norway and Portugal.
Here, ALD entered into a share purchase agreement to sell its subsidiary in Ireland to Crédit Agricole Consumer Finance. Upon completion of its sale to Crédit Agricole Consumer Finance, ALD in Ireland will eventually change its name. In Ireland, LeasePlan will of course also become part of the new group.
In addition, LeasePlan’s businesses had to follow a similar route in the Czech Republic, Finland and Luxembourg, to satisfy the Commission’s concerns.
By joining forces, ALD Automotive and LeasePlan say they will lead the way to net zero and further shape the digital transformation of the industry. The combined entity will leverage on scale and complementary capabilities to strengthen its competitiveness and deliver sustained growth.