Fraikin Group makes acquisition in Spain

16 October 2006

The Fraikin Group, Europe’s largest commercial vehicle fleet services provider, has strengthened its presence in Spain with the acquisition of two companies - Lambea and Clamauto – by its Spanish subsidiary, Fraikin Alquiler de Vehículos.

Originally created in France, Fraikin is expanding its operations across Europe and already has a network covering Spain, the UK, Belgium, Luxembourg and, more recently, Switzerland and Poland. The Group has a turnover of €756 million and a fleet of over 50,000 vehicles.

The simultaneous acquisition of Lambea’s and Clamauto’s businesses will enable Fraikin to accelerate its expansion, having already achieved organic growth of 25 per cent in the 2005-06 financial year.

With a central office in Madrid, Lambea and Clamauto have a strong presence in the Spanish capital and the surrounding region and also have a network of agencies in the Extremadura and Castilla la Mancha regions. Established in Barcelona in 1998, Fraikin’s Spanish operation caters for a wide range of customers and has a highly qualified workforce capable of managing strong growth

The acquisition of Lambea’s and Clamauto’s businesses will give Fraikin strong roots in Madrid, doubling its local fleet from 400 to 800 vehicles. Nationwide, the company now has a fleet of nearly 2,500 commercial vehicles and the deal makes it the leader in multi-marque goods vehicle hire in the Iberian Peninsula.

Olivier de la Morinière, Chairman of the Fraikin Group’s Management Board, explained: “These two acquisitions will support the internationalisation strategy that we have launched, particularly since the takeover of Lex Transfleet’s Commercial Fleet Division in the UK in late 2005. They demonstrate our determination to increase our lead on the European Market, and in particular on the countries with strong potential like Spain.”

Marti Batalle, Managing Director of Fraikin’s Spanish subsidiary, added: “This new acquisition will allow us to reassert our position in the centre of the country and support our future development in northeast Spain and Portugal.”