Business Lease in merger talks with Terberg
Dutch leasing companies Business Lease and Terberg Leasing are in talks about a possible merger, which could take place as early as the end of this year.
Business Lease and Terberg Leasing are some of the biggest vehicle leasing companies in the Netherlands. Terberg manages around 25,000 contracts, while Business Lease had about 20,000 vehicles in portfolio.
The news about the possible merger was announced by both companies themselves. A feasibility study is under way to determine the benefits of the merger. Should the two companies decide to merge, Autobinck Group – the parent company of Business Lease – would retain the ownership of that company's lease activities outside the Netherlands (mainly in Eastern Europe).
Both Business Lease and Terberg Leasing have said they will make no further comment on the plans for the duration of the feasibility study. Of late, Business Lease has been experiencing some turbulence in its home market in the Netherlands.
The company has been reorienting its activities from leasing to include fleet management (last year acquiring Fleet Support to this end), and has also gone through a succession of CEOs. And now, coinciding with the (potential) merger news, another Business Lease executive is quitting the company
Stijn Otten (33), who headed the company's Innovation Lab, is leaving Business Lease. Mr Otten was the creative force behind new Business Lease initiatives such as privatelease.com and Moove, the company's telematics division.
A few months ago, he was celebrated as Automotive Talent of the Year by the Dutch fleet industry. It is as yet unclear what Mr Otten's next appointment will be. He has not ruled out starting a new business himself.