ALD acquires sternlease in the Netherlands
• Acquisition of SternLease B.V., a subsidiary of Stern Group, totaling c. 13,000 vehicles, strengthening ALD’s SME and Private Lease offering in the Netherlands • Dedicated distribution agreement through Dealergroup Stern’s 85 local branches • Transaction forms part of ALD’s growth strategy focused on delivering value-added mobility services to SMEs and private individuals
On 1st March 2019, ALD signed an agreement to acquire SternLease B.V.*, the leasing arm of Stern Group, the Dutch listed market leader in automotive retail. This acquisition forms part of ALD’s development strategy and is an example of ALD’s focus on targeted and value accretive bolt-on acquisitions.
SternLease B.V. is the leasing subsidiary of Stern Group with a fleet of c. 13,000 vehicles rented to SMEs and private individuals in the Netherlands. The subsidiary provides leasing services through direct distribution and Dealergroup Stern’s network of 85 local dealerships. On top of the agreement to acquire SternLease B.V., a dedicated distribution agreement has been signed to provide access to this local dealership network for the exclusive distribution of ALD leasing services for SMEs and private individuals. As ALD’s preferred partner, Stern Group will supply cars and mobility services such as car maintenance, body repair and rental services. Customers will also benefit from services provided through Stern Car Services’ 17 branches for brand-certified repairs and maintenance.
This transaction is expected to strengthen ALD’s SME and Private Lease offering in the Netherlands, positioning the company as the 5th largest player in the market, while expanding the commercial reach of its solutions. ALD in the Netherlands currently manages a fleet of c. 50,000 contracts with large corporates, SMEs and private individuals.
“SternLease B.V. has developed a competitive position in the SME and private lease market for long-term leasing services. This transaction further enhances our strategy to increase the reach of services brought to our customers. It is an example of our ability to identify bolt-on acquisitions with key differentiation factors to expand our coverage. We are very pleased to welcome the SternLease B.V. teams and look forward to a successful collaboration with Stern Group,” confirms Mike Masterson, CEO of ALD.
“We are very pleased with the partnership as envisioned by both partners. We believe this alliance will significantly boost the business of our dealerships and SternPoint, as well as further improve the integrated mobility services we provide to our customers,” confirms Henk van der Kwast, CEO of Stern Group.
*Completion of the transaction subject to approval by shareholders at the Stern Group Annual General Meeting on 9 May and approval from the Dutch Authority for Consumers & Markets (ACM).