Published on [04.04.2022]
BNP Paribas Leasing Solutions has sold the assets and contracts of BNP Paribas Rental Solutions Limited, which offers truck contract hire services, to Novuna Vehicle Solutions.
BNP Paribas Rental Solutions Limited’s business operates a contract hire fleet of over 1,300 specialist vehicles across the UK. Novuna Vehicle Solutions is a leading vehicle leasing and fleet management provider operating in the UK for over 30 years.
The core operations of BNP Paribas Leasing Solutions UK will not be impacted by the sale nor will it impact on BNP Paribas Rental Solutions business in France where the company is a leading market player.
‘This is a special opportunity to continue to grow our business, evolving our specialist fleet services and the talented team who deliver first class customer services day in, day out.’ Said Jon Lawes, Managing Director of Novuna Vehicle Solutions. ‘The similarities that exist with the way we do business, our values, culture and customer first approach assure me that this is an exciting opportunity to strengthen our unique capabilities.’
EY acted as lead financial adviser to BNP Paribas Leasing Solutions on the transaction.
About BNP Paribas Leasing Solutions
As the European leader in asset finance, BNP Paribas Leasing Solutions supports the growth of its clients and industrial partners by offering rental and finance solutions with services for their professional equipment.
At the heart of the usage economy, we provide businesses with the flexibility they need to remain competitive and grow in a sustainable way.
Our 3,700 experts support our clients’ and partners’ growth by offering them an increasingly digitalised experience.
In 2021, we financed 343,000 projects for a total volume of 14.7 billion euros in 20 countries, in Europe and also Asia, the United States and Canada.
About Novuna Vehicle Solutions
Novuna Vehicle Solutions, is one of the UK’s top 10 largest leasing companies with more than 30 years’ experience providing bespoke fleet finance and fleet management services for businesses and consumers across the UK.
With a fleet of over 95,000 vehicles ranging from cars, small, medium and large vans to HGVs, the business provides all forms of funding, maintenance, accident and daily rental management, supporting customers across every stage of the vehicle life cycle.
Novuna Vehicle Solutions is unique in the market in being able to offer an end-to-end decarbonisation solution for businesses, from vehicle leasing and management to infrastructure and energy storage and is leading the charge on electric vehicle adoption.
For the last three years, the business has been named Leasing Company of the Year (more than 20,000 vehicles) at the prestigious Fleet News and Commercial Fleet Awards and is the only Fleet News Top 10 leasing company to be fully accredited by the Institute of Customer Service.
Novuna Vehicle Solutions is a trading style of Mitsubishi HC Capital UK PLC, part of Mitsubishi HC Capital Inc., one of the world’s largest and most diversified financial groups, with over £60bn of assets.