|By PR Newswire||
|August 8, 2014 10:00 AM EDT||
LONDON, August 8, 2014 /PRNewswire/ --
Enterprise Rent-A-Car today announced the acquisition of Burnt Tree, one of the UK's largest providers of commercial rental vehicles to companies and public sector organisations. The purchase increases the breadth of vehicles and services that Enterprise can provide to its customers under its flexible commercial vehicle hire division, Flex-E-Rent.
The agreement includes Burnt Tree's diverse commercial fleet of 17,000 vehicles, including commercial vans, HGVs, refrigerated trucks and accessible minibuses, its proprietary fleet management technologies, as well as its network of 20 branches and a team of 400 employees.
In the immediate short-term, the Enterprise Flex-E-Rent and Burnt Tree businesses will continue to operate as two separate brands, with a view to creating a combined entity that will be headquartered in Shrewsbury. The acquisition, for an undisclosed sum, significantly increases Enterprise's value proposition in the flexible commercial vehicle rental sector and will take its fleet of commercial vans and trucks to more than 25,000.
Enterprise UK and Ireland managing director, Mike Nigro, said: "We are committed to the growth of our flexible commercial vehicle business, which has grown organically in recent years.
"We could immediately see the potential of Burnt Tree to give our customers access to skills and services that are particularly suited to the needs of commercial vehicle customers. Burnt Tree also has the same culture of delivering outstanding customer service as Enterprise and shares a rich heritage of conducting business in the UK.
"Burnt Tree has some unique expertise that it can bring to Enterprise and it will also benefit from becoming part of a truly global organisation. The combined business post-acquisition will be far stronger with greater economies of scale and better technology, while the transfer of knowledge will allow us to better serve our customers."
The new business will be led by Danny Glynn, Director, Enterprise Flex-E-Rent. Burnt Tree chief executive, Richard Metcalfe, will remain in an advisory capacity to help steer the direction of the combined business.
Richard Metcalfe said: "Last year we stated our ambition to become the leading and largest business in our industry. In time, this agreement will allow Burnt Tree to achieve its full potential to become the market leader. It will become part of the world's largest vehicle rental company, which, like Burnt Tree, is privately owned.
"I know that there is both the vision and resources to grow the business over the long-term, which means there will be opportunities for people here. I would like to thank everyone sincerely at Burnt Tree for all their hard work and for making the business such a success. This agreement marks the next phase of growth for the business."
Shrewsbury-headquartered Burnt Tree has been operating for more than 30 years, while Enterprise is celebrating its 20th anniversary in the UK this year. As well as its Flex-E-Rent division, Enterprise also operates a fleet of more than 60,000 vehicles from the UK's largest network of car hire branches.
About Enterprise Rent-A-Car
In the UK, Enterprise Rent-A-Car is the sole specialist in providing replacement vehicles and courtesy cars, which are relied upon in the event of an accident. Enterprise, with more than 7,300 offices in the UK, Germany, Ireland, the United States and Canada, also offers daily and weekend rental for private or business use.
St. Louis-based Enterprise Holdings, the largest car rental service provider in the world, operates the Enterprise Rent-A-Car brand through its regional subsidiaries. Enterprise started in the UK in 1994 and now has more than 3,500 employees. With more than 370 locations across the UK over 90 per cent of the UK population lives within 10 miles of an Enterprise branch.
For more information about Enterprise, visit http://www.enterprise.co.uk. For more information about Enterprise's environmental stewardship and long-term commitment to the sustainability of its business, visit http://www.drivingfutures.co.uk.
[This news release and other Enterprise Rent-A-Car announcements are available at the Enterprise Holdings press room.]