Arval Beyond
Arval announces the signing of an agreement for the acquisition of Terberg Business Lease Group in the Netherlands and Belgium
Strategy
8 Sep 2022
Arval announces today that its Dutch subsidiary Arval B.V. has signed an agreement for the acquisition of Terberg Business Lease Group B.V. (TBLG) from its shareholders Royal Terberg Group and AutoBinck Group.
TBLG is a full service leasing provider with a strong position in the direct channel of the Dutch private lease market, a well-developed and market-leading e-commerce platform with the JustLease label. With this acquisition, Arval – a BNP Paribas Group’s company specialized in full-service vehicle leasing and sustainable mobility solutions – in the Netherlands, will diversify its already broad business to business product offering towards business to consumer. With over 100,000 leased vehicles in total, Arval will become one of the largest leasing companies and mobility players in the Dutch market.
TBLG was created in 2019, following the merger of Terberg Leasing B.V. and Business Lease Nederland B.V. TBLG leases vehicles to businesses and individuals and had a fleet of 38,170 leased vehicles towards the end of December 2021.
Alain van Groenendael, Chairman & CEO of Arval, declares: “The intended acquisition of TBLG perfectly fits the Arval Beyond strategy and our ambition to become the European leader in sustainable mobility. Together we can expand our digital capabilities and strengthen our private lease offering, become one of the leading mobility partners in the Netherlands, and further strengthen our presence in Belgium.”
Rogier van Ewijk, CEO of TBLG, comments: “In the current highly competitive market environment, strong purchasing power and the means to invest in innovation are a requirement for growth. The intended acquisition by Arval is a great opportunity for TBLG to join the #1 multibrand full service leasing company in Europe, which strives to accelerate the energy transition and shape the future of mobility.”
The acquisition, which is still subject to the completion of the consultation process with the works councils of the parties involved and approval by the European Commission, is expected to be completed in the coming months.