GCA Altium advised Fleetpool on its sale to ALD Automotive
Fleetpool, based in Cologne, is the leading German car subscription company serving private individuals, partners and companies through a digital subscription platform for multiple brands, such as like2drive. Founded in 2008 in response to the need for mid-term car leasing services, Fleetpool is currently the only major car subscription player in Germany addressing all customers and channels through multi-brand and white label strategies. Fleetpool provides fully integrated digital access to all-inclusive car subscription packages directly via its mobility web shops. Subscription contracts are managed entirely online, from car selection to credit assessment and e-signing of the contract.
The acquisition will allow ALD to grow its mobility offering with Fleetpool’s car subscription expertise for private individuals and companies, as well as OEM partners looking to diversify their distribution models and service offerings. Expansion is envisaged in over 10 European countries by 2026.
Tim Albertsen, CEO of ALD, said: “Our continued focus on bolt-on and value accretive acquisitions leverages our positioning in the flexible full-service vehicle leasing segment. Fleetpool’s proven track record will allow us to benefit from leading-edge technology and solid mobility expertise to accelerate our ambitions around car subscription services for our clients and partners in Europe.”
Gert Schaub, Founder and CEO of Fleetpool, added: “Fleetpool is a pioneer in car subscription services and has proven its expertise with an economically successful business right from the start, notably without the need for venture capital. With ALD, we have found the ideal partner to combine and scale our car subscription expertise with the strength of an international mobility solution powerhouse. As an integrated company within the ALD Group, our goal will be to make Fleetpool the number one European provider of car subscription services, in line with our leadership position in Germany.”
The completion of this transaction is subject to customary merger control approvals.