Liquid Fleet looks to double its fleet within two years

Liquid Fleet is aiming to double its fleet size within the next two years after the business was acquired from its original owners.

Looking to grow organically and through acquisitions, the firm says it has a healthy funding line in place and wants to expand its share of the vehicle hire procurement sector as well as exploring new business-to-business (B2B) sectors. 

It also provides vehicles into the fleet management and accident management sectors.

Managing director Ismael Aumeerally wants to double his fleet over the next 2-3 years from its current 2,500 vehicles to 5,000 vehicles and more. It currently sits at number 36 in this year's FN50, but 5,000-plus vehicles could move it into the top 30. 

“We have a strong balance sheet and significant funding lines with five major banks which allows us to look for the right acquisitions and mergers to accelerate our growth,” he said. 

“There are many regional and national vehicle related organisations that would complement our current business model, and we will be actively looking to explore those organisations in the next 12 months.”

Aumeerally joined Liquid Fleet as operations director in 2019 and led a management buyout (MBO), which was completed in December 2022, from the original owners and then became the company’s MD.

He recruited a new senior management team, including Dirk Van Dijl as Liquid Fleet’s new financial director, who he worked with at City Car Club, and Martin Potter, originally from Aston Barclay, who was appointed as the company’s commercial director.

During the past two years, Liquid Fleet says it has paid off its acquisition debt and is creating an Employee Ownership Trust, with the business 100% owned by its employees.

Liquid Fleet believes the benefits of the trust cannot be underestimated as the business is run and owned by the entire team.

With terms in place with most of the major manufacturers, it says it is able to provide customers with a choice of vehicles that are typically hired from six to 36 months. 

In terms of electric vehicles (EVs), Liquid Fleet says the rental market is not as ready as it had hoped and as ready as the overall market wanted to be. 

“When someone rents a car, they want to travel from A to B with no hassles and we have already seen how EV rental fleets have struggled in the US,” explained Aumeerally. 

“That is before you consider that many rental companies do not own their own premises and are restricted at rolling out a charging infrastructure by restrictions laid down by their landlords. 

“Hybrids however are becoming a regular addition to the fleet.”

Liquid Fleet has continued to push lower emission vehicles and while 17% of its current fleet is hybrid (mild hybrid or plug in hybrid), 39% of the fleet purchased in the last six months has been hybrid.

“Hybrids have been a useful stepping stone for many companies, and with connected vehicles giving solid mileage data on average mileage travelled during a rental, we believe this will encourage a greater appetite by Liquid customers moving forward,” Aumeerally added.