Lookers, one of the leading UK integrated automotive retail and service groups, has announced the acquisition of Fourways Vehicle Solutions Limited.
Founded in 2003, Fourways provides a UK-wide vehicle rental service, using a combination of its own fleet of vehicles and its vehicle rental broking arm, which has access to over 75,000 vehicles from some of the UK's major rental companies.
The Whitchurch company manages in excess of 7,000 rentals a year and in 2022 had total revenue of £3.8 million.
Lookers says its sees significant opportunity for Fourways to grow its market share and to cater for Lookers' own rental requirements at lower cost and with greater certainty.
Mark Raban, chief executive officer of Lookers, said: "We are very excited to welcome Fourways to Lookers.
"Over the last 20 years, the team have built a reputation for providing industry-leading service to many high-profile customers seeking corporate vehicle solutions.
"With the consolidation of our own leasing business now complete, we are excited to add further scale to the division. Fourways is another step on our journey to grow our leasing and fleet platform, building and improving our offering for an increasing customer base."
The acquisition fits with one of the group's key strategic priorities to leverage its corporate leasing and fleet capabilities.
Fourways will sit within Lookers Vehicle Solutions, the umbrella brand for all corporate operations, with significant growth potential.