Arval agrees to acquire Terberg Business Lease
Arval announced today that it has signed an agreement for the acquisition of Terberg Business Lease Group (TBLG), active in the Netherlands and Belgium. The move gives Arval a stronger advantage in its mission to diversify its activities towards the business to consumer market. The full-service leasing specialist will also become one of the largest leasing companies and mobility players in the Dutch market.
TBLG is a full service leasing provider with a strong position in the Dutch private lease sector. It also has an established e-commerce platform with the JustLease label.
TBLG was created in 2019, following the merger of Terberg Leasing B.V. and Business Lease Nederland B.V. TBLG leases vehicles to businesses and individuals and had a fleet of 38,170 leased vehicles towards the end of December 2021. Arval's leased fleet in the Netherlands consists of over 60,000 vehicles.
Alain van Groenendael (pictured), Chairman & CEO of Arval, stated: “The intended acquisition of TBLG perfectly fits the Arval Beyond strategy and our ambition to become the European leader in sustainable mobility. Together we can expand our digital capabilities and strengthen our private lease offering, become one of the leading mobility partners in the Netherlands, and further strengthen our presence in Belgium.”
Rogier van Ewijk, CEO of TBLG, comments: “In the current highly competitive market environment, strong purchasing power and the means to invest in innovation are a requirement for growth. The intended acquisition by Arval is a great opportunity for TBLG to join the #1 multibrand full service leasing company in Europe, which strives to accelerate the energy transition and shape the future of mobility.”
Paul Zekhuis, CEO of AutoBinck Group said: "In the Netherlands, our focus has for some time been on providing mobility services to the business community. This sale is therefore in keeping with our strategy as well, as we in the Netherlands are increasingly shifting away from automotive to focus more specifically on mobility in the broader sense."
The acquisition, which is still subject to the completion of the consultation process with the works councils of the parties involved and approval by the European Commission, is expected to be completed in the coming months.