PRESS RELEASE 26/06/2024 – Following clearance by all relevant regulatory authorities, TraXall International announces the completion of the acquisition of Fleet Logistics Group from its shareholders Volkswagen Financial Services and TÜV SÜD.
The combination of the two organisations creates Europe’s largest independent mobility & fleet management provider with some 400,000 contracts under management. Its joint client portfolio includes many of the world’s leading companies, in both local and global markets.
Ross Jackson, CEO of TraXall International, said: “We are delighted that the significant acquisition of the Fleet Logistics Group has been successfully completed and we are hugely excited for what the future holds. One highlight for me will be meeting and getting to know our new colleagues over the coming weeks and months. At the same time, now the real work starts together – to expand on our mutual strengths, invest in future-facing systems, understand synergies and efficiencies, all of which leads to building and delivering the best of the best experiences for our customers and our people, advancing the future of fleet and mobility management.
The completion of this deal also couldn’t happen at a better time. It is widely reported that businesses are seeing substantial cost increases, particularly across their fleets, as Total Cost of Ownership (TCO) remains volatile. In attempts to counter this, we are seeing our customers (and the wider market) recognising the need to adopt new practices to control costs as it is no longer enough to pull the same levers to create cost improvement. TraXall International and Fleet Logistics remain uniquely positioned to help our customers do exactly this – control costs which have increased in all countries due to widely-reported EV residual value challenges aside from market dynamics, economic and geo-political issues. The strength of the unique approach and stability which both TraXall International and Fleet Logistics bring, will continue to drive efficiencies, and sustainably protect our customers’ cost bases and future strategies.”
Steffen Schick, CEO of Fleet Logistics Group added: “We are thrilled that the acquisition of Fleet Logistics Group has been completed and are eager to shape the future strategy for the combined business. I am very proud of the entire Fleet Logistics team who throughout this process has shown great resilience and determination. We are very much looking forward to working with our new colleagues to create THE most innovative fleet and mobility management company. Together, we have what it takes to shape our industry.
