Nexus Vehicle Rental

Having closely worked with the Nexus Management Team over a ten-year period of exceptional growth, Park Place has advised on another stage of their business journey. The team’s latest buyout, funded by Equistone Partners Europe and Ares Capital, marks the third successive buyout that Park Place has advised on and represents a successful exit for Phoenix Equity Partners, who backed the £142m tertiary MBO in 2018.

Leeds-based Nexus is a leading B2B vehicle rental aggregator platform utilising its proprietary IRIS tech platform. Since inception 22 years ago, the company’s sustained growth has spurred it on to become one of the UK’s leading tech-driven business mobility providers, having reached over 4 million rental bookings in 2022. Operating an asset-light business model, Nexus provides a broad range of corporate, credit hire and leasing customers with access to the UK’s largest rental supply chain, with 550,000 vehicles across 2,000 locations.

Nexus has recently diversified into the plant hire and taxi market, as well as investing further in Nexus Connect, a unique mobile application that streamlines the rental process for end-users whilst on the move. Nexus is also planning to launch several other product developments in 2023 to support the changing mobility requirements of its customer base.

David Brennan, Executive Chairman of Nexus, commented “Park Place have delivered another fantastic result. They have done this on every occasion we have worked with them over the last ten years. Given their commitment to providing truly independent advice, deep knowledge, and technical expertise they were the only team we could really trust to support us. At each stage they have understood our objectives and priorities and worked with great commitment, finesse, and sensitivity to ensure these were delivered. Equistone’s investment sets us up for our next exciting chapter of growth as one of the UK’s leading tech-driven mobility providers.”

Tim Simpson commented “We are delighted to have once again delivered the desired outcome for this exceptionally successful team. Having worked with them over a long period and built a detailed understanding of the commercial context as well as their personal objectives, we were able to ensure their interests were properly represented and accommodated within the wider deal process.”

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