Fleetcare announces completion of $150M funding facility.
Innovation leads the way for customer solutions in 2019.
Australia’s largest independent fleet management company, Fleetcare Pty Ltd today announced the completion of a $150M securitisation facility with a major Australian bank.
The facility provides a strong financial foundation for Fleetcare to continue to support its fleet and novated customers and paves the way for additional growth.
“Fleetcare are uniquely positioned to improve our market share as we move into the new financial year”, Fleetcare CEO, Mr Nigel Malcolm said.
“As an independent organisation we pride ourselves on having an innovation focus and offering a truly integrated solution to our customers. The success of the securitisation facility was paramount to our plans for the coming years which will see Fleetcare placing a greater focus on improving the social, environmental and economic impact of fleet vehicles on Australian roads. Our financial stability and growth helped to make the securitisation facility a reality.”
The transaction was negotiated by KPMG’s Perth Corporate Finance team and Director of Deals, Tax and Legal, Mr Ian O’Brien who said the funding arrangement represents an efficient deployment of capital and assists Fleetcare to continue to provide cost effective vehicle fleet management and financing solutions within the Australian market.
“Fleetcare has a well-established fleet business which is well known across the country and benefits from being one of the very few privately owned in Australia with such operational scale.
“KPMG worked hand in hand with the national Fleetcare executive team to identify a suitable financing partner which reflects their current strategic priorities. The new funding arrangement is a great result as it enables Fleetcare to meet the ever-increasing client requirements now and into the future,” he said.
With the facility allowing Fleetcare to continue to support its customers with a fully integrated fleet management and leasing solution, Mr Malcolm said it enabled his organisation to focus on broadening their tailored offering to clients.
“We have recently found that many clients are bundling our In-Vehicle Monitoring Solutions and are taking advantage of the seamless fleet integration that allows for better driver support, enhanced fraud detection and asset control.
“The new funding facility means we can only go from strength to strength in providing what we see is the future of fleet management and really grow our business in this area.”