Equistone Partners Europe has acquired a majority stake in Nexus Vehicle Rental, aiming to drive growth in the UK's tech-driven mobility solutions sector.

Target Information

Equistone Partners Europe has acquired a majority stake in Nexus Vehicle Rental, a prominent B2B vehicle rental aggregator platform based in Leeds. Nexus operates with an asset-light business model, granting corporate, credit hire, and leasing clients access to the UK's largest vehicle rental supply chain, featuring 550,000 vehicles across 2,000 locations. Utilizing their proprietary IRIS technology platform, Nexus has established itself as a leader in tech-driven business mobility solutions, achieving over 4 million rental bookings in 2022 alone.

Founded 22 years ago, Nexus has demonstrated impressive growth and adaptability, particularly during the COVID-19 pandemic. The company has diversified its offerings, entering the plant hire and taxi markets while investing in Nexus Connect, a mobile application that enhances the vehicle rental process for users on the go. Additionally, Nexus aims to introduce several new products in 2023 to cater to the evolving mobility needs of its clientele.

Industry Overview

The vehicle rental industry in the UK has evolved significantly over the past few years, driven by technological advancements and changing consumer behaviors. Companies in this sector are increasingly focusing on streamlining the rent