Leeds-based fleet management firm Global Autocare has won investment from leading mid-market private equity firm LDC to support its ambitious growth strategy.
Global is an independent corporate mobility and fleet management provider with a strong track record for growth and a loyal customer base.
The business has consistently delivered organic growth by over 20 percent year-on-year since 2010.
LDC’s support will help the business to accelerate its national growth plans, building on its strong relationships with some of the world’s leading car manufacturers.
LDC will take a significant minority stake in the business, and is backing the existing management team, which will continue to be led by Founder and Managing Director Geoff Bloore, Finance Director David Sadler, Commercial Director Stephen Chater, Fleet Director Joe Bloore and Company Secretary Joanne Duncan.
As part of the deal, John Walker will join the board as Non-Executive Chairman. He is a former private equity investor and has specific experience with fleet management firms.
Dale Alderson, Director at LDC, added: “Global Autocare is a fantastic example of a dynamic, homegrown business.
“It has used an innovative approach and an exceptional reputation for client service to become one of the region’s most exciting success stories.”
Global provides fleet solutions to businesses across the UK, and services include daily rental, contract hire, fleet management, mobility solutions, maintenance and repair, movements and storage.
Its client roster consists of businesses with significant fleet requirements across a diverse range of industries.
The brand also sponsors elite sports teams across the region, including Leeds United Football Club, Leeds Rhinos Rugby Club and the Tour de Yorkshire, the major international cycle race held in Yorkshire annually.
Geoff Bloore, Founder and Managing Director of Global Autocare, said: “Our proposition responds directly to evolving client needs within the corporate vehicle hire sector.
“We are committed to offering flexible services that give customers greater control over their fleet management and access to the latest models from the world’s most sought-after automotive brands.
“We chose to partner with LDC for private equity investment due to the firm’s heritage and success in the region, supporting Yorkshire-based businesses looking to scale nationally and beyond.”
And John Garner, Head of LDC in Yorkshire and the North East, believes the deal will help Global to achieve its goals across the country.
He added: “Yorkshire continues to be a vibrant place to do business, but we know there is great opportunity for Global Autocare to grow even further and quicker across the UK.
“We’re looking forward to supporting the management team to achieve its ambitions for the future.”
The investment marks the third this year for LDC in Yorkshire and the North East, following investments in York-based business services provider Mosaic Fulfilment Solutions and Newcastle-based property services provider iamproperty.