Douglas and Iain Anderson, the joint managing directors of plant hire company GAP Group, have sold a separately-owned vehicle hire company to car hire giant SIXT.
The business was set up in 2014 as a private venture to support a range of companies with light commercial vehicle (LCV) and 4x4 vehicle rental from four locations in the UK.
GAP Group and SIXT will continue to work closely together, partnering on key mutual customers as SIXT expand its LCV rental presence in the UK.
The deal advisers were EY, led by partner Ally Scott and a team including Richard Rainey, Kevin Swan and Katie Allison, alongside Shepherd and Wedderburn, where partner George Frier advised, assisted by senior associate Alison Blair and solicitor Euan Small.
SIXT was advised by Addleshaw Goddard.
Douglas and Iain commented: “We were delighted with the support of EY and Shepherd and Wedderburn on this transaction and for their unstinting support on all financial and legal matters through to a successful outcome for all.”
Frier said: “It was a pleasure to be able to support Douglas and Iain on the transaction and to ensure the process went smoothly - we look forward to seeing the relationship between the two organisations develop to maximise the benefits for each company in the years ahead.”
Scott added: “We were pleased to be able to originate this key transaction, bringing the parties together and structuring a deal that worked for Douglas and Iain while meeting SIXT’s strategic objectives for expansion in commercial vehicle rental in the UK.”
Insider wishes to clarify a misleading headline in the email newsletter that this story went out in - and confirm that the Anderson brothers have sold a separately owned vehicle hire business, rather than a division of GAP Group.
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