FRAIKIN Group, a leader in the long-term rental of commercial and industrial vehicles in Europe, announces that it has entered into exclusive negotiations with the shareholders of VIA Location Groupe, Davidson Kempner and Triton Partners, with the objective of acquiring the company.
The new Group, consisting of FRAIKIN and VIA Location, would have around 3,500 employees and generate almost one billion euros in turnover.
VIA Location has been providing fleet management solutions for industrial vehicles for 100 years. Specialized in long-term rental with or without drivers, short-term rental as well as maintenance and management of industrial vehicle fleets, the company provides customers with the security and proximity of a network of 46 agencies and 40 integrated workshops covering France and Belgium.
FRAIKIN aims to support VIA Location over the long term around the strategic priorities set by its President, Philippe Mellier:
- Maintain our position as an European leader in its market,
- Offer a wider range of innovative services thanks to its 2 strong brands with a good national network,
- Strengthen sustainable growth of the 2 Groups
With this acquisition offer, FRAIKIN, which has positioned itself for 75 years as a reference in Europe in the sector, intends to capitalize on its unique expertise while preserving the identity of both networks.
The proposal will be submitted to employee representation bodies for consultation. Completion of the deal – which will be performed without any cash exchange – is subject to regulatory approvals in France and is expected to close by June 2020.
Philippe Mellier, CEO of FRAIKIN, said:
“I’m excited about the possibility of working with, and supporting, VIA Location. Both companies share a deep history in the market, with strong brands and extensive national networks. The combination would strengthen the sustainable growth of both groups, capable of offering a wider range of innovative services to customers. This deal would also consolidate our leading position in the sector.”