In the Netherlands, leasing company Noordlease has been acquired by Hitachi Capital Corporation – the first foray onto the Dutch market by a Japanese leasing company.
HCC will acquire all outstanding shares of the company, effectively making Noordlease its subsidiary.
Noordlease has been providing car leasing and related services since 1982. For 2015, the company reported revenues of around €70 million. The acquisition by FCC will provide it with the financial backing to effect further business growth, as well as expansion into the rest of Europe.
From HCC's perspective, the deal fits with its Vehicle Solutions business plan, aimed at pro-actively seeking mergers and acquisitions in Europe and the Americas. HCC already has businesses in Poland and the UK.