TOM Vehicle Rental acquires rival firm Transflex
A Scottish commercial vehicle hire firm has expanded by acquiring a rival based in the north east of England.
Airdrie-based TOM Vehicle Rental paid an undisclosed amount for Stockton-on-Tees company Transflex.
The deal sees Transflex's 3,500 cars and light commercial vehicles, four depots and 80 employees join the larger TOM business.
The Scottish company now has a rental fleet of more than 16,000 vans, trucks, trailers and cars.
Its UK depot network has increased to 15 sites - six in Scotland, five in the north of England and four in the south.
TOM chief executive Robert Stewart said: "The purchase of Transflex Vehicle Rental comes at the right time and is a strong fit with our strategy to increase our UK market share by adding to our existing network, increasing our fleet size and customer base.
"Transflex has built a strong reputation for providing high-quality vehicles and excellent customer service over many years and this will continue going forward.
"The acquisition enables TOM to continue improving customer service through greater UK coverage and a larger available fleet offering."
The acquisition follows a management-led buyout of TOM in December, supported by private equity firm Equistone Partners Europe.