Squire Patton Boggs has advised Global Autocare (Global) and its management on the exit of UK private equity investor LDC, with the executive management team taking the business forward as it enters its next phase of growth. The transaction follows a successful six-year partnership during which revenue has more than doubled and the business has strengthened its position as a leading provider of corporate mobility and fleet management services in the UK. Squire Patton Boggs also advised Global on the original investment from LDC.
The Squire Patton Boggs team was led by Corporate director Jayne Aarons and partner Paul Mann, and partner Tom Telford and director David Parry from the Financial Services Practice.
Global is a leading provider of innovative fleet solutions to large and small-scale businesses across the UK. Global’s core market is the business-to-business sector providing corporate mobility and fleet management services, including daily rental, contract hire, vehicle leasing, maintenance and repair, and movements and storage.
Since LDC’s investment in December 2019, Global has pursued an ambitious growth strategy. The business has more than doubled its annual revenue and tripled profits, strengthening its national presence while establishing itself as a leader in sustainable fleet solutions for corporate clients.
The transaction has been facilitated by a new eight-figure funding package from NatWest, which has supported Global throughout LDC’s investment period.
