AutoBinck announces proposed sale of Business Lease Poland to Van Mossel Automotive Group

Van Mossel Automotive Group and Business Lease Group, part of AutoBinck Group, have reached an agreement on the proposed acquisition of Business Lease Poland. Through this transaction, International Car Lease Holding (ICLH), the leasing holding company of Van Mossel Automotive Group, will add leasing operations in Poland for the first time. Van Mossel Automotive Group is already active in Poland through its dealership network, following the recent acquisition of Auto Idea.

Business Lease Poland is active in operational leasing, remarketing and short-term rental. The company operates from offices in Warsaw and Wrocław and manages a leasing portfolio of more than 4,000 vehicles. In addition, the organisation serves more than 650 customers and has a network of over 500 service partners across Poland and neighbouring countries.

With an average contract duration of 3.4 years, Business Lease Poland focuses on long-term customer relationships and offers a comprehensive range of services, including maintenance, damage repair, tyre services, insurance and fleet management services. In addition to its leasing activities, the company carries out the remarketing of used vehicles through Cars & Care and the online platform CarCollect.

The proposed acquisition is in line with Van Mossel Automotive Group's strategy to further expand its international mobility and leasing activities. Through Business Lease Poland, ICLH will enter the Polish leasing market for the first time. Van Mossel Automotive Group is already present in Poland through its dealership network. This creates additional opportunities to align leasing, remarketing and dealership activities within the Polish market.

The proposed transaction will be submitted for approval to the relevant competition and regulatory authorities. Completion of the transaction is subject to customary conditions and approvals.

Eric Berkhof, CEO of Van Mossel Automotive Group:

"With Business Lease Poland, International Car Lease Holding is entering an important European growth market. The company has a strong customer base, a professional organisation and a high-quality leasing portfolio. This proposed acquisition fits perfectly with our ambition to further expand our international leasing activities."

Michel Cornelissen, CFO of AutoBinck Group:

"Thanks to the dedication of our team, Business Lease has developed a strong and successful position across five European markets. Against the backdrop of ongoing consolidation in the leasing sector, we believe that partnering with larger organisations provides the strongest platform for continued growth. The sale of the Polish operations to Van Mossel is an important next step in the execution of this strategy."

Elias Drakopoulos, CEO of Business Lease Group:

"With Van Mossel's expertise and long-term vision, we are confident that our Polish operations are well positioned for continued growth, creating lasting opportunities for both the business and our employees."

‍

AutoBinck Group was advised by A&O Shearman as legal counsel and ING Bank as financial advisor.