Investment December 2015
Business Corporate Vehicle Rental
Growth StrategyProduct and Service Development
Why we invested
Vehicle rental is playing an increasingly important role in the management of corporate fleets, as a flexible, responsive and low-cost solution to short-term vehicle needs. This was an opportunity to back the leading B2B broker of rental vehicles in the UK in executing an ambitious growth plan, capitalising on its industry-leading technology, high service levels and strong market position.
Vehicles on platform
During Bowmark’s period of investment, Nexus significantly increased its penetration of the corporate market. It also expanded into the heavy goods vehicle sector, becoming the first provider to offer a national HGV solution alongside cars and vans, through a single, integrated technology platform.
The company achieved strong growth, more than doubling its profits and, in July 2018, was sold to Phoenix Equity Partners for a consideration of £142 million.
David Brennan,Chief Executive