Glasgow-based vehicle funder and fleet manager Fleet Alliance has acquired a controlling interest in Neva Consultants for an undisclosed seven-figure sum, expanding its presence further south.

The acquisition of the contract hire and fleet managing company created Fleet Alliance Group, to be overseen by Martin Brown, managing director, in partnership with Neva’s directors, Graham Prince and Nick Collinson.

Fleet Alliance said that East Sussex-based Neva will continue as a separate brand, but with an enlarged group fleet of over 25,000 vehicles.

Brown said: “We have known and worked with Neva for the last ten years or more…they made the perfect fit for us.

“This is a significant investment and acquisition for Fleet Alliance, but I would not rule out further purchases in the future.”

While Fleet Alliance will take a majority of Neva’s shares, Prince and Collinson will continue to have shareholding in the business.

Prince said: “This is not a new departure for us as we have known the personnel at Fleet Alliance for a number of years, and we know that we are joining an excellent and professionally run operation that is held in high regard throughout the UK fleet industry.”