SANDERSON Bramall Motor Group has acquired contract hire and leasing firm Albany Lease for £4 million. Liverpool-based Albany Lease has a fleet size of 2,000 vehicles and was formerly owned by dealer group J Blake, which is in the hands of the receiver.

The total purchase price includes £1.75 million for Albany's net assets plus £2.25 million. Tony Bramall, chairman of Sanderson Bramall, said: 'The acquisition of Albany is a stepping stone in achieving our objective to create a substantial leasing division within the group.'

The group already had 4,000 vehicles on contract hire via Harrogate-based Sanderson Bramall Leasing, Lymm-based Extra Leasing, and Milton Keynes-based BMG Contracts, but has no immediate plans to amalgamate these operations. Further acquisitions and organic growth are also on the agenda, despite other dealer groups such as Ryland, Arriva and Alexanders selling their contract hire operations.