ALD Automotive has finalized the takeover of the French group Parcours. Société Générale, the parent company of ALD Automotive, and Wendel, that had a majority ownership in Parcours, were conducting intensive talks for a while, and now the French competition authorities also approved the takeover.
The group Parcours was founded in 1989, and today it is the 7th French actor for long term lease of vehicles. The company is also present in Spain, Belgium, Luxembourg and Portugal. The entire fleet consisted of 61.500 vehicles on December 31 2015. In 2015, the consolidated turnover amounted approximately 370 million euros.
The takeover project of the Parcours-group falls within the development strategy of ALD Automotive, one of the European and global market leaders in long term lease. By the end of 2015, ALD Automotive possessed 1,207 million vehicles, whereof 50.000 in Belgium. With this step ALD Automotive will strengthen its position in the market segment of the SMEs, and accelerates its growth on the long term lease market.
Société Générale shows with this takeover its will to support the development of ALD Automotive – as leader in the market and as growing and profitable business.