MAN acquires majority stake in EURO-Leasing
Greater leveraging of potential in truck rental
MAN has acquired a majority stake in truck rental operator EURO-Leasing GmbH. The interest has risen from the current 25.1% to 50.1% in a capital increase. This move opens up the entire value chain to MAN Nutzfahrzeuge, enabling the MAN SE subsidiary to participate in truck rental, a market of the future, to a greater extent. It also allows synergies to be leveraged, such as in the management of workshop capacity and repairs to semitrailers and trailers in the after-sales business, for example, and through intelligent returns and portfolio management in the used vehicles business. The acquisition has the added effect of reinforcing MAN Nutzfahrzeuge’s service expertise and strengthening customer loyalty.
EURO-Leasing is one of Germany’s leading independent rental operators and currently has a fleet of about 2,600 towing units and 8,000 towed units (trailers and semitrailers). The company has around 100 employees and generated revenue of €170 million in 2008. The new ownership structure will not involve any changes at EURO-Leasing’s management level.