LCV Group bought by Global Vans

The LCV Group has been sold for an undisclosed sum to broker Global Vans by Crownhawk Properties.

It follows the acquisition of leasing firm XLCR by Global Vans last year, to create a small and medium-sized enterprise (SME) focussed car and van leasing ‘super broker’.

The LCV Group, formerly Low Cost Vans, will join XLCR and Global Vans to create the Global Vehicle Group, a tech-enabled, SME focussed, van and car leasing broker business.

The businesses, however, will continue to have the same management and will retain their individual brands and identities.

Rod Lloyd, MD of The LCV Group will work in consultation with the executive board of the Global Vehicle Group, which is led by CEO Andrew Hurst.

The purchase also includes the acquisition of TR Fleet, a specialist fleet management consultancy business.

Lloyd said: “I’ve known Andrew and the XLCR business for a long time and, when we spoke about the LCV Group becoming part of the Global Vehicle Group, I knew LCV would be in safe hands and they would invest to facilitate further growth.

“It’s a fantastic opportunity and LCV will remain as a strong brand within the new group. I’m excited to see what the future brings.”

Global Vans was founded in 2002, with its head office in Bristol, and now has offices in Hemel Hempstead and Cardiff.

Hurst described the acquisition as a great tie-up with another fantastic business that shares the Group’s vision to become the UK’s “best and most innovative, tech-enabled, SME specialist broker for LCVs and cars, their electrification, insurance and ancillary products”.