International conglomerate Traxall has finalized the takeover of Fleet Logistics Group, marking a significant expansion in their global operations.
In a significant move, Traxall International and Fleet Logistics Group have announced the completion of their acquisition. This merger was initially announced in December 2023 and has since been approved by relevant authorities.
The acquisition comes at a time when Total Cost of Ownership (TCO) remains volatile among fleets, and both companies aim to help customers control costs, particularly those challenged by widely surging EV residual costs, market dynamics, and economic and geo-political issues.
Traxall International, a global leader in fleet management services, manages around 400,000 contracts. The company has been pursuing a global expansion strategy and, in September 2023, invested in OviDrive, expanding its services to 38 global markets.
Fleet Logistics Group, an Australian fleet management company, complements TraXall International's existing strengths, particularly in serving local customers while maintaining a strong footing in international markets. The acquisition was completed from shareholders Volkswagen Financial Services and TÜV SÜD.
Ross Jackson, CEO of TraXall International, expressed his enthusiasm about the merger, stating that the combined company will drive efficiencies and sustainably protect customers' cost bases and strategies. Steffen Schick, CEO of Fleet Logistics Group, shares Jackson's sentiment, believing the combined company will be the most innovative in fleet and mobility management.
With this merger, Traxall International and Fleet Logistics Group will represent Europe's largest independent mobility & fleet management supplier. The specific Australian company involved in the September 2023 investment has not been detailed publicly.
This merger is expected to bring about significant changes in the fleet management industry, offering customers a broader range of services and innovative solutions to navigate the complexities of fleet management in the current economic climate.
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