Insight Investment Group has acquired Fleet Finance, previously known as John Deere Financial, marking a strategic consolidation in the Russian leasing market.

Overview of the Target

Fleet Finance LLC, formerly known as John Deere Financial, is a leasing company that has recently been integrated into the Insight Investment Group. The company has been providing leasing services of equipment and machinery for over 10 years, primarily within the agricultural, construction, and logging industries across Russia. In the first nine months of 2023, Fleet Finance reported a new business volume of 4.1 billion rubles, with 2.9 billion rubles generated in the third quarter alone. The company successfully entered into 378 leasing agreements during this period, of which 276 were signed in the third quarter.

Industry Overview in Russia

The leasing market in Russia is experiencing a transformative phase, especially in light of recent geopolitical shifts that affect supply chains and market dynamics. Following the cessation of operations by several Western firms, Chinese manufacturers have rapidly filled the gap in various sectors, notably in road and construction machinery. This shift has enabled Russian companies to adapt quickly to changing market conditions, thereby supporting the growth of local leasing firms like Fleet Finance.

In the agricultural equipment segment, the transition has been more complex, as certain types of high-demand machinery, such as large tractors and combines, have specific requirements that are not easily met by