Utrecht - Royal Terberg Group and AutoBinck Group have reached an agreement with international leasing company Arval regarding the acquisition of Terberg Business Lease Group (TBLG). TBLG is a joint venture of Royal Terberg Group and AutoBinck Group. This acquisition is conditional pending approval from the European competition authorities and the conclusion of consultation with the works councils of TBLG and Arval. The transaction is expected to be completed before the end of this year. No information on the acquisition price will be released.
With this acquisition, Arval will strengthen its market position in the Dutch and Belgian auto leasing markets. TBLG operates under the Terberg Business Mobility, Privatelease.com, Justlease and Personal Car Lease brands and manages a fleet of around 40,000 lease vehicles. Arval's lease fleet in the Netherlands consists of over 60,000 cars.
Godfried Terberg, Executive Board chair for Royal Terberg Group: "The sale of Terberg Business Lease Group is in keeping with our strategy of devoting our full attention to the divisions that design, manufacture and maintain specialised vehicles. Arval is a highly-renowned business and a major player in the international auto leasing market that offers TBLG great prospects for further growth under its roof."
Paul Zekhuis, CEO of AutoBinck Group: "In the Netherlands, our focus has for some time been on providing mobility services to the business community. This sale is therefore in keeping with our strategy as well, as we in the Netherlands are increasingly shifting away from automotive to focus more specifically on mobility in the broader sense. Our car-leasing activities via Business lease Group in Central Europe are entirely separate from the sale of TBLG. While our strategy there actually does focus on the automotive aspect, we are gradually adding more mobility services to that portfolio."
* Update: The sale of TBLG was officially completed on December 1, 2022. After consultation with the works councils of both organizations, the statement was received on 16 November 2022 from the European Commission that the acquisition is in line with European Union competition law. Royal Terberg Group wishes the newly formed Arval-TBLG combination every success.
About Royal Terberg Group B.V.
For over 150 years, the companies of Royal Terberg Group have been driven to provide the very best to the global specialised vehicle market. With 38 operating companies in 13 countries, revenue of over €1B and more than 3,000 employees, the family business Terberg is an independent multinational supplier of specialised vehicles and vehicle systems.
About AutoBinck Group N.V.
The foundation for the current family business AutoBinck Group was established in 1907. Today, the company has grown into a leading player in the European mobility market with many-faceted ventures that focus on the mobility of today and tomorrow. AutoBinck Group generates around €1B in revenue, has over 1,500 employees and operates in 31 countries.