Fraikin Spain celebrates 20th anniversary
At the age of 20, the Spanish subsidiary of the French group is in the prime of its life. On the south side of the Pyrenees, the specialist in the long-term leasing of light commercial vehicles (LCVs) and trucks has seen its turnover increase from 54.8 million euros in 2014 to 65.3 million in 2016 and is expected to reach nearly 73 million in 2017. As the internationalization of the group continues, new shareholders are expected to step in in the weeks or months ahead.
In Spain, Fraikin's fleet has 5,700 vehicles, 42 percent of which are temperature-controlled models and 31 percent are ambulances. While on the Iberian Peninsula the average age of industrial vehicles is 10 years and that of LCVs over 10 years, the Fraikin fleet contributes to the rejuvenation of the fleet with only 4.5 years of average age.
27 percent of Fraikin's Spanish fleet is composed of Iveco models, 14 percent of Fiat vehicles, 12 percent of Mercedes LCVs and heavy-duty vehicles, et cetera. Some 50 units run on gas, while 10 electric vehicles, in particular Renault Kangoo ZE, have seduced customers like the city council of Palma. In Spain, Fraikin works with Amazon, Carglass, Chronopost, Coca-Cola, Decathlon, STEF, TNT, Veolia, et cetera. ISO 9001, 14 001 and 18 001 certified, Fraikin Spain is particularly renowned for its quality of service.
15 countries
Present in 15 countries and on 2 continents, Fraikin is a true European market leader regarding long term rental of Industrial Vehicles (VI), with 180 branches, 2,800 employees, a fleet of 58,000 vehicles, 7,000 customers and a turnover of 663 million euros in 2016. Over the past three years, Fraikin has established itself in 5 new countries (Italy, Germany, Russia, the Netherlands and Saudi Arabia) to tend to its international customers, who represent 30 major accounts and 25 percent of the fleet. "Only 40 percent of the European fleet of industrial vehicles and 15 percent of all European vehicles are financed through long term rental", explains Pierre-Louis Colin, Chairman of the Management Board. "There is a substantial growth potential."
Fraikin first crossed the borders of its home country in 1978 to create a subsidiary in the U.K. This was followed by office openings in the Benelux countries in 1992, Spain in 1997, Poland, Switzerland and Slovakia in 2006, the Czech Republic in 2011 and Hungary in 2013. "The 20th anniversary of Fraikin Spain confirms the success of our international strategy”, says Pierre-Louis Collin. “Spain has become the group's second biggest subsidiary, after Great Britain. "
Fraikin was sold to Fiat by the Eurazeo fund in 2003, and in 2007, a majority stake was acquired by CVC Capital Partners. Since 2015, the group has returned to growth and new shareholders are expected to step in by the end of the summer.
