Mcnicoll van hire
Sector: Transport
Type of business: Commercial leasing of vans, cars and buses
Location: Scotland
Motivation for sale:
To partner with a larger group and push the business to the next level.
Acquirer profile:
With operations in 180 countries, Avis Budget Group is a global organisation in the leasing and rental sector, benefitting from an international fleet of 655,000 vehicles.
Marketing strategy:
It was important to focus on McNicoll’s status as Scotland’s largest vehicle rental company, highlighting its substantial fleet of vehicles and long-term customer relationships to establish it as an opportunity with scope for further growth.
Negotiation strategy:
McNicoll was very attractive from a profitability perspective and due to its modern, well-maintained fleet of vehicles. There was a great opportunity for a buyer to seamlessly integrate McNicoll’s fleet into their own without the need for repairs and replacements. Avis, one of the largest vehicle rental companies in the world, felt like the perfect fit and was attracted to McNicoll’s extensive fleet, strong customer relationships and sustained growth over recent years.
Vendor's comments:
“The values of Avis are strongly aligned with those of McNicoll and our combined vision for the future gives our talented local staff amazing opportunities to develop their careers. By combining the strengths of the two companies, we can provide our loyal customer base with an even better rental experience whilst also attracting new customers across Scotland. We’re very much looking forward to a bright future.”
Acquirer's comments:
“Investing in Scotland, broadening our vehicle rental offering and working alongside a locally owned and well-renowned business was a core focus for us. We look forward to building on the McNicoll team’s passion and expertise for short-term and long-term vehicle hire.”