Fleet management company Sgfleet has acquired UK contract hire, short-term rental and fleet management service provider Motiva Group.

Motiva’s existing managing team, including managing director Peter Davenport, will stay on in the company following the acquisition.

The company also acquired Fleet Hire in August, and the combined size of the new Group is among the 20 largest players in the UK contract hire market.

Sgfleet also operates in New Zealand and Australia, where it is listed on the Australian Securities Exchange.

Sgfleet’s UK managing director, David Fernandes, said: “Motiva is an excellent addition to our UK operations. It brings further skills in the specialist light commercial vehicle segment and daily rental operations as well as an increased footprint in the contract hire market.

“I am delighted that Peter Davenport has chosen to remain with the business and help deliver our strategic plans in the UK. Furthermore, we are very pleased with the acquisition of Fleet Hire and the progress on the integration to date”.

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By GlobalData