BT Group has agreed to sell BT Fleet Solutions, its commercial vehicle maintenance arm, to pan-European investment business Aurelius Equity Opportunities.
The purchase price has not been disclosed and the deal is due to complete before the end of this year. Latest published accounts for BT Fleet Solutions show revenues of £209.5m in 2017/18.
Headquartered in Solihull, BT Fleet Solutions employs 950 staff around the UK and manages 80,000 vehicles for its clients – including BT and Openreach vehicles – using a network of 65 in-house workshops, 500 partner facilities and 50-plus mobile technicians. Aurelius says it will support “a carve out” of BT Fleet Solutions from the telecoms group over the coming months, ensuring “a seamless continuation” of day-to-day operations.
It also says the fleet business will be rebranded within the next 12 months. Gerry McQuade, CEO of BT’s Enterprise unit, said: “The acquisition of BT Fleet Solutions by Aurelius is an exciting and significant step forward in its development and will deliver for its customers, people and the BT Group.”