Fleet management company CLM completes management buy out

Fleet management company CLM has announced the completion of a management buy out (MBO) for an undisclosed sum from the Maxxia Group.

Maxxia, part of the Australian McMillan Shakespeare Group, had bought the firm in 2013, as it sought to strengthen its UK operations. 

However, nine years after that deal was struck, CLM’s chief executive officer, John Lawrence, chief commercial officer, Andy Short, and chief information officer, Andrew Beard, have formulated an MBO team that has now achieved a mutually acceptable position with the McMillan Shakespeare Group to acquire the CLM business.

The team have achieved this with external investment from Colin Knowles, from Knowles Fleet, and Gareth Shaw, previously at Maxxia who now joins CLM as chief financial officer.

The MBO team says that the acquisition will accelerate opportunity and grow CLM as a provider of independent fleet management services, including panel funding, vehicle rental, vehicle storage and logistics, accident management and its recently launched Lifestyle Car Choice, a salary sacrifice programme developed in partnership with Knowles Fleet and underpinned by panel funding.

Lawrence said: “With investment in our fleet management propositions, technology and people, we believe we can take CLM to the next level and ensure we delight our existing and new customers, develop CLM as a fulfilling and rewarding environment to build a career in fleet management and build a profitable, fast growing fleet management business.”

CLM manages commercial vehicles on behalf of corporate customers.