Hitachi Capital Polska acquires EuroFleet in Hungary
Hitachi Capital Polska (HCPL) will acquire EuroFleet ZRT in Hungary, in order to merge it with Hitachi Capital Mobility Hungary, its existing commercial-vehicle operation in the country.
The deal is signed and will be completed when conditions are met and regulatory clearance obtained. It puts HCPL at the forefront of long-term commercial vehicle rental industry in Hungary, and in the right position for further growth. The merger will create an entity covering all types of vehicles and services.
Including all of EuroFleet’s assets and employees, the new organisation will count more than 50 employees and manager over 3,000 vehicles for around 700 customers. For the time being, EuroFleet will continue as a separate brand.
Established in 2008, EuroFleet’s portfolio at the end of 2020 consisted of around 2,200 vehicles. In addition to cars and vans, EuroFleet also offers fleet management services for motorhomes, fridge vans, electric cars and micromobility vehicles such as electric scooters and bicycles.
Hitachi Capital Mobility is a subsidiary of HCPL, whose ultimate parent is the Japanese group Hitachi Capital Corporation. HCPL has branches not only in Warsaw (Poland) and Budapest (Hungary), but also in the Czech Republic and Slovakia.
“Managing (this merger) in these difficult times was challenging, but we were convinced that acquiring such a well-organised and high-quality company will accelerate our expansion plans in Central and Eastern Europe,” said Eric Van Vliet (pictured), CEO of HCPL, who managed the teams in Poland and Hungary that made the deal work.
The merger comes after HCPL’s acquisition of the Central and Eastern European (CEE) operations of Fraikin in early 2020. Fraikin’s Hungarian branch specialised in commercial vehicle fleet management, with a particular emphasis on safety, mobility and customer satisfaction.
EuroFleet, one of the fastest-growing companies in Hungary’s long-term rental and car fleet management industry, was the partner HCPL wanted to completement its commercial vehicle business in Hungary, in order to support local development and strengthen its position in the wider CEE market. After the merger, the combined organization will be headed by László Kőszegi.