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Fraikin Group acquired by European consortium

Fraikin Group acquired by European consortium

The Fraikin Group, the provider of services and investment solutions for commercial and industrial vehicles in Europe, which includes operations in the UK, has announced the completion of the acquisition of the parent holding company FTI by a consortium led by Alcentra and Värde Partners.

Following the transaction, the Group will be recapitalised, with a significant reduction of its holding debt by approximately €500 million.

Fraikin Ltd is part of the Fraikin Group, the largest commercial vehicle fleet services company in Europe, providing fleet management, contract hire and rental solutions to both the private and public sector.

The Fraikin Group, established in France in 1944 by Gérard Fraikin, has operations in 16 countries, with more than 2,800 employees, 7,000 clients, 180 branches and a fleet of 60,000 vehicles. Its operations span Belgium, Czech Republic, France, Germany, Hungary, Italy, Luxembourg, Morocco, Netherlands, Russia, Saudi Arabia, Slovakia, Spain, Switzerland, Poland and the UK.

The Group CEO Pierre-Louis Colin, said: “Fraikin is embarking on a new phase with this agreement to restructure the Group’s debt and arrange this controlling interest transaction. I am pleased and proud to continue the work that we have been doing for years. We now have all of the necessary ingredients to go forward and propose a bold, long-term strategic plan that harnesses the full potential of the company.”

In 2017, the Group achieved its third consecutive year of growth based on robust performance in countries where the group has long been present - mainly France, Spain, the UK and Poland - as well as strong growth in its new markets - Italy, Germany, and Saudi Arabia. More recently, Fraikin has continued its organic growth with a new subsidiary that opened in Dubai last month.

The Group says its will embark on a strategic plan for “transformation and growth” saying it was committed to its stated mission to offer the best services and investment solutions for commercial and industrial vehicles, thereby enabling customers to focus on their core business.   The company has also introduced a newly redesigned visual branding to support a broader, international market position.