Greenarc buys vehicle leasing and fleet management supplier KeyFleet

Greenarc, a national supplier of fuel and green energy solutions, has acquired Key Finance and Leasing (KeyFleet) for an undisclosed sum.

The Lancashire-based business, which has provided vehicle leasing and fleet management services for more 15 years, says joining Greenarc will give it the “platform and the resources” to further take advantage of the electrification of vehicles.

Chris Bingham, Greenarc chairman and CEO, said: “We are really excited to welcome KeyFleet to our fast-growing business.

“Greenarc supports both homes and businesses across the UK with their fuel and low carbon energy services, and with the green evolution a huge priority, being able to offer our customers a one-stop solution for their fuel, solar, batteries, EV charging points and now their electric vehicles is a great place for us to be.”

He added: “We’ve worked closely with Marc (McLoughlin, KeyFleet managing director) and the team at KeyFleet for several years and we’re delighted to have them with us on our journey.

“With their focus on electric vehicles, they are the perfect business to join Greenarc as we continue to grow and develop to become a central figure in the transition to renewable energy and sustainable transport for both the commercial and domestic markets.”

McLoughlin will join the board at Greenarc as part of the sale.

He said: “Since the business was formed back in 2007 my aim has always been to build a unique and worthwhile business that would genuinely make a difference and leave a legacy that we can all be proud of, and I’ve been fortunate enough to attract a highly skilled team that buy into that vision.

“This acquisition by Greenarc allows us to fulfil our potential as a business by providing both the platform and the resources we require to take advantage of the electrification of vehicles which is no doubt the single biggest opportunity in the fleet sector since the invention of the motor car.”

He continued: “We are excited to lead the charge towards sustainable motoring and electrification nationally as part of the Greenarc group of businesses that will see us expand our services into other renewable solutions as we build a total decarbonisation offering.”

KeyFleet, is based in the Ribble Valley and currently employs a team of 22 which includes regional relationship managers who are based across the whole UK.

KeyFleet will join Greenarc which employs over 50 people within its existing group of businesses.

The acquisition was facilitated by Clarion Solicitors. Tax advice was provided by BHP Chartered Accountants and funding by Barclays Bank.

Photo caption: Marc McLoughlin (left) Chris Bingham (right) at the Greenarc Fuel Cards office in East Lancashire.