ALD acquires SternLease in the Netherlands
Leasing and business mobility company ALD has signed an agreement to acquire SternLease. SternLease is the leasing arm of Stern Group, the Dutch listed market leader in automotive retail.
This transaction has to strengthen ALD’s SME and Private Lease offering in the Netherlands, positioning the company as the 5th largest player in the market. Today ALD manages a fleet of around 50,000 vehicles in the Netherlands.
"SternLease B.V. has developed a competitive position in the SME and private lease market for long-term leasing services. This transaction further enhances our strategy to increase the reach of services brought to our customers. It is an example of our ability to identify bolt-on acquisitions with key differentiation factors to expand our coverage. We are very pleased to welcome the SternLease B.V. teams and look forward to a successful collaboration with Stern Group,” confirms Mike Masterson, CEO of ALD.
SternLease has a fleet of around 13,000 vehicles, and is specialised in SME business and private leasing in the Netherlands. The company also provides leasing services through direct distribution and via Stern’s network of 85 local dealerships. On top of the agreement, a distribution agreement has been signed. As ALD’s partner in the Netherlands, Stern Group will supply cars and mobility services such as car maintenance, body repair and rental services. Customers will also benefit from services provided through Stern Car Services’ 17 branches for brand-certified repairs and maintenance.
"We are very pleased with the partnership as envisioned by both partners. We believe this alliance will significantly boost the business of our dealerships and SternPoint, as well as further improve the integrated mobility services we provide to our customers", confirms Henk van der Kwast, CEO of Stern Group.