Palladian backs Global Vehicle Group

Investment will support GVG’s next phase of growth, with fleet industry leader Andrew Cope joining as non-executive Chairman.

Palladian Investment Partners (“Palladian”) is pleased to announced that it has invested in Global Vehicle Group (“GVG”), the UK’s leading source of leased vans and cars for B2B customers. The transaction is subject to regulatory approval.

Palladian is backing co-founders Andrew Hurst and Jon Lewis and GVG’s existing management team, who are all reinvesting alongside Palladian and will continue to lead the business through its next phase of growth. Current minority shareholder H2 Equity Partners will exit upon completion of this transaction.

Commenting on the deal, CEO of Global Vehicle Group Andrew Hurst said: “We are incredibly excited to partner with Palladian, who share our vision that our business can continue on its strong growth trajectory and take a bigger share of the huge market for corporate cars and vans in the UK. It will allow us to build on our market leading customer proposition by developing our proprietary technology and investing in our great team of people. We are grateful to H2 Equity Partners for their support as our first private equity partner over the last four years.”

Doug Oppenheim, Co-Managing Partner of Palladian, further commented: “GVG is an outstanding business; a clear category leader with a differentiated multi-brand platform, a loyal customer base and a team that is genuinely passionate about delivering the best outcomes for its clients. Andrew, Jon and the wider team have built something that is well ahead of its peers; we see a significant opportunity to go further by investing in GVG's technology, broadening its product offering and helping the business capture a greater share of the SME van, car and fleet markets. We are delighted to be their partner for the next phase of the journey.”

Palladian is also pleased to announce that upon completion of the transaction, Andrew Cope will join its board of directors as non-executive Chairman. Andrew is one of the most respected and widely recognised leaders in the UK fleet industry. He was a founding member of Zenith, which grew to become the UK's leading independent leasing and fleet management business, and served as its Chief Executive Officer, steering the business through multiple successful management buyouts and a period of sustained growth and transformation. His deep sector expertise and track record of building market-leading businesses make him an outstanding addition to the GVG board at this exciting stage of the company's development.

Arini Capital Management is providing financing facilities to support Palladian’s investment in GVG. Palladian was advised by Stephens Europe, MDW Capital Advisory, King & Spalding, Addleshaw Goddard, Grant Thornton, Armstrong, BDO, Panamoure, Capin Partners and Corval Partners.