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Zenith expands into HGV sector with CVL purchase

Zenith expands into HGV sector with CVL purchase

Bridgepoint, which recently bought vehicle leasing and fleet management company Zenith in a £750 million deal, has acquired Contract Vehicles Holdings Limited group (CVL) from its shareholders for an undisclosed sum.  

The “add-on acquisition” of CVL extends Zenith’s reach into the HGV market and, according to the company, builds the UK’s only independent one-stop-shop, HGV to car mobility provider.   

CVL is claimed to be a highly regarded provider of commercial vehicle contract hire and fleet management solutions specialising in the HGV market and managing more than 20,000 vehicles.  

With more than 20 years of experience, CVL said it prided itself on offering a fully managed solution to its clients and was responsible for the management of some of the world’s largest companies’ commercial vehicle fleets.  

Based in Leeds, CVL provides contract hire, fleet management and leasing services and has most recently added telematics to its portfolio of services.  

CVL’s consultative approach is claimed to always ensure it is focused on client needs, offering a bespoke solution which combines flexibility with the benefit of in-depth industry knowledge with the aim of delivering reduced costs and efficient operating processes to customers.  

Tim Buchan, Zenith’s chief executive officer, said: “We are delighted to announce this acquisition as we expand our total mobility provision. The combined organisation will deliver a truly unique proposition for car, van and HGV operators in the UK. CVL will operate as a standalone business, but will benefit from Zenith’s core infrastructure and funding.”  

Bridgepoint’s Emma Watford said: “CVL has an excellent technology platform and shares Zenith’s customer-centric culture. The acquisition is complementary and is one of the building blocks we identified when we acquired Zenith to allow the company to open up new markets and extend its offer in the UK and Europe.”  

Doug Smith, CVL’s chief executive officer, said: “This is an exciting development for CVL, its customers, employees and suppliers. The Zenith and CVL values and approach to customer service are strongly aligned and Zenith’s scale and funding capacity will enhance CVL’s ability to deliver exceptional service to its customers.”