provider
Following the strategic acquisition of rival fleet services
provider Inchcape Automotive Ltd in June this year, Camden
Corporate Fleet Services (CCFS) has further increased its profile
and operational capacity with a £27m investment by Barclays Private
Equity.
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Organised by newly appointed chief executive Ian Wardle, CCFS was
sold off-market in a management buy-in, which should see the
company grow at a higher rate than the projected market growth of 3
per cent.
“It was a deal that I originated with existing shareholders, so it
was a business that was in a position that could be sold. And I, as
a management buy-in candidate knew the business, the shareholders
and the sale process and brought them together,” Wardle said.
“Camden is in a position to go forward to the next stage of
development.”
Established in 1996, CCFS provides courtesy cars to large
fleet customers, including car rental firms and insurance
companies, as well as a range of services such as vehicle delivery,
taxation, registration, remarketing and refurbishment. It also has
a range of used car dealerships across Ford, Vauxhall, Nissan and
Renault marques. Wardle said that CCFS will add more franchise
marques to strengthen its dealership side with the enhanced
funding.
CCFS’ buyout of Inchcape Automotive saw it grow its fleet
services tenfold and Wardle expects Barclays’ contribution to “take
CCFS forward to the growth curve”.
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