Societe Generale’s ALD Automotive has agreed to acquire Spain’s Reflex Renting, a B2B mid-term lease provider.
According to ALD, Reflex’s fleet numbers 2,000 vehicles across Spain. Reflex characterises its offering as “flexible renting”, or mid-term fleet leasing.
It is ALD’s second acquisition in Spain in the past 18 months. In early 2017, it acquired BBVA Autorenting, the 25,000 vehicle-strong leasing arm of Banco Bilbao Vizcaya Argentaria.
ALD has had a presence in Spain since 1992. It counted 18,000 clients in the country as of 2018.
Mike Masterson, chief executive of ALD, said: “Reflex has developed a niche position through a singular product offering, unique IT capabilities and direct access to SMEs.
“This transaction further enhances our strategy to increase the scope of services brought to our customers. It is an example of our ability to identify bolt-on acquisitions with key differentiation factors.”
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Pablo Martinez, chief executive of Reflex, said: “This transaction is a key step for Reflex’s development. The combination of Reflex’s unique capabilities in flexible renting and ALD commercial reach and product offering will be a clear growth accelerator.”
On the B2C side, ALD entered a partnership with Finland’s MaaS Global last week, which will see MaaS add ALD carpooling as one of the mobility options available on its Whim app, next to taxis, bikes and public transit.
The partnership will start with a pilot in Helsinki this month. MaaS’s Whim app is currently available in Birmingham in the UK.