King & Wood Mallesons has advised ASX-listed SG Fleet Group Limited (SG Fleet) on its acquisition of UK company Fleet Hire, a provider of fleet management services.

SG Fleet, a subsidiary of the JSE-listed Super Group is a significant player in the international fleet management and leasing industry, with operations in Australia, New Zealand and United Kingdom. It manages in excess of 130000 assets and is also a leading provider of vehicle salary packaging solutions in the Australian and UK marketplace.

Headquartered in the West Midlands, UK, Fleet Hire is a provider of contract hire, salary sacrifice and short-term rentals. It also provides a range of fleet management services that are stand-alone or in combination with contract hire. With a range of customers, from SMEs to large listed entities and across various industries, the UK company has seen continued organic growth since its establishment, having recently ranked in the UK’s top 25 Contract Hire businesses.

As part of its UK strategic growth plan, SG Fleet has expanded its offering and presence with the acquisition of Fleet Hire, and its leading regional strengths. The acquisition provides SG Fleet with critical mass in the UK market and, in combination with its existing local business based in Solihull, West Midlands, creates a profitable platform for continued growth.

Andrew Wingfield, Corporate partner, said, “We are delighted to have advised our client on the next step in its investment strategy through the acquisition of a key UK market player. We were able to leverage the strength of the firm's global platform, with the depth of our UK practice’s M&A capabilities and strong presence in the market. This was key to the delivery of a successful transaction".

The King & Wood Mallesons team was led by partner Andrew Wingfield, with Corporate counsel James Darbyshire and trainees Kemi Greene and David Richardson.