INVESTMENT YEAR
2008
REALISATION YEAR
2015
SECTOR
Services
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Vehicle rental firm

Nexus is a Leeds based car rental broker with unique customer facing technology that helps link customers to ‘any vehicle, any time, anywhere’.

When Livingbridge met Nexus in 2008 they had the capability, technology and ambition to become a market leader but not the funding or infrastructure. It was also the midst of a recession.

At point of exit Nexus was the UK’s largest corporate vehicle rental management firm, providing clients with access to over 500,000 vehicles in over 2,000 rental locations.

By 2015, Nexus was making £5 million profit per year compared to £1 million in 2008 and was sold in a £51m PE-backed buyout generating strong returns for all shareholders.

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Driving progress, even through a recession
  • We worked closely with management to position Nexus as a market leader and built a strong senior team, introducing a new chairman, an FD and a sales director.
  • The first acquisition of the vehicle rental management arm of FMG Support happened after just a few months. This transformed the scale and potential of Nexus, helping it to ‘burst through the glass ceiling’ by almost doubling profitability within the first year.
  • In 2010 Nexus acquired Adapted Vehicle Hire complementing its market-leading rental service with vehicles for disabled drivers
  • Working with the management, we helped change the focus from credit hire to corporate customers and bigger accounts. This changed the quality of earnings across the business.
  • At point of exit Nexus was the UK’s largest corporate vehicle rental management firm, providing clients with access to over 500,000 vehicles in over 2,000 rental locations. By 2015, Nexus was making £5 million profit per year compared to £1 million in 2008 and was sold in a £51m PE-backed buyout generating strong returns for all shareholders.
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Nexus Vehicle Rental timeline

1999 Nexus founded in Leeds
2006 IRIS system launched
2008 Livingbridge invest
2008 Nexus acquires vehicle rental management arm of FMG Support
2010 Nexus makes a further acquisition, Adapted Vehicle Hire
2015 Livingbridge realise investment

Case study: Nexus Vehicle Rental

We speak to David Brennan, CEO of Nexus Vehicle Rental, about their journey to become the UK’s largest corporate vehicle rental management firm, and to Livingbridge’s Amy Yateman-Smith and Andrew Garside about how we helped them get there.

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