Private Equity

FMG Support Limited

In February 2008 the Private Equity team completed a £7m investment in FMG Support Limited, the UK's largest independent fleet performance improvement company.

Based in Huddersfield and employing over 350 people, FMG Support provides a range of outsourced services to help its blue chip customers to manage the performance of their vehicle fleets, generating efficiencies and improving profitability. These services include incident management, roadside repair and recovery management and vehicle rental management.

The business has grown rapidly in recent years, in particular through securing a position as the preferred outsourced provider of incident management services to a number of the UK's major vehicle leasing intermediaries including LeasePlan, Masterlease and GE Commercial Finance Fleet Services.

Revenues in 2007 were over £60m and further significant growth is predicted. The ever increasing burden of regulatory compliance continues to drive a trend towards the outsourcing of fleet management to specialist providers. At the same time FMG Support is continuing to improve and develop the suite of services it offers to its customers, as well as extending its offering into complementary markets.

Aberdeen invested £7m for a significant minority stake in the business. The funding will assist CEO, Nick Brown, and the incumbent management team, in the delivery of their ambitious development plans.

Colin Stirling, Director of Investment at AAMPE, commented:
"FMG Support is a high quality business which we have been shadowing for some time and we are really pleased to have the opportunity to support the team in the next phase of development. We believe the niche which the business serves has positive legislative and regulatory dynamics and are confident that FMG Support delivers service levels which offer a real competitive advantage."