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Teesside vehicle rental firm snapped up by Scottish rival in multi-million pound deal

Teesside commercial vehicle hire firm Transflex has been acquired by Scottish rival TOM Vehicle Rental in a multi-million pound deal.

Transflex, based at Stockton-on-Tees, specialises in flexible fleet rentals to businesses. The fast growing firm was recently listed 13th in the Sunday Times Virgin Fast Track 100 league table of Britain’s fastest-growing private businesses.

Established in 2011 by an experienced group of shareholders, Transflex’s growth has been aided by funding from a number of prominent private investors including the Vardy family. The deal was structured and secured by Transflex Chairman Steve Smith and his fellow shareholders.

Peter Abdale (Managing Director), Gary Henry (Sales Director), Nick Skillman (Operations Director), and Tina Lynas (Finance Director) from Transflex will all join the TOM executive management team.

Following the deal, both brands will continue to operate in the UK market, serving their well-established and valued customer bases.

The combined business becomes the third largest light commercial, flexible rental business in the UK with a rental fleet of over 16,000 vans, trucks, trailers and cars, across a UK depot network of 15 sites comprising six in Scotland, five in the North of England and four in the South.

Newcastle-based law firm Muckle LLP acted for the Transflex shareholders in a deal which sees its 3,500 cars and light commercial vehicles, four depots and 80 employees join the larger TOM business.

Steve Smith said: “Thanks to some extremely hardworking people, we have consistently delivered an excellent service to our loyal customers and I am incredibly proud of the size of our business and the rate at which it has grown.

“This deal is exciting news for everyone involved with the company – particularly as the Transflex team and its customers now benefit from a truly UK-wide network. I am sure the business will continue to go from strength to strength.

“While it was challenging, I was delighted that we were able to structure the deal ourselves, helped by some highly responsive and commercial advice from Muckle LLP.”

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