Lex acquires Seltra
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• Lex Service is moving into contract-hire in Europe with the acquisition of French truck contract-hire company, Seltra.
It will pay Vim to acquire half the share capital of the Seltra group, with an option, estimated at 25.6m, to buy the remainder of the company after two years.
Seltra will become a sister company of Transfleet under parent company Lex.
Lex chairman and chief executive Sir Trevor Chinn says a French company was chosen because the French contracthire market is rather fragmented and provides expansion opportunities, both by "organic growth and possibly by acquisition". Transfleet public services contract manager Rob Kerridge reports that the company has had many direct enquiries from French local authorities as a result of Transfleet's council contracts, and the deal with Seltra is expected to open the door "to sharing our expertise in the UK market".
Transfleet is consolidating its local authority operations in the UK with the renewal of its contract-hire agreement with the London Borough of Hammersmith and Fulham, which involves 71 new vehicles out of a total of 243. Transfleet is also about to sign a Scottish local authority contract in the Dumfries and Galloway region for about 50 vehicles. •