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Noordlease sold to Japanese multinational Hitachi

Press Release -

On 31 January 2017, Japan-based Hitachi Capital Corporation (Hitachi) acquired Noordlease based in Groningen, the Netherlands, from its current shareholders NIBC Mezzanine & Equity Partners, Investerings- en Ontwikkelingsmaatschappij voor Noord-Nederland (NV NOM) and Noordlease management. The new owner will allow Noordlease to further develop its growth ambitions at an accelerated pace. Managing directors Gert Veenstra and Robert Nienhuis will continue to be in charge of the company’s day-to-day operations. The acquisition will also bring new growth opportunities for the employees of Noordlease, both in the city of Groningen and internationally.

Two and a half years ago, NIBC and NV NOM teamed up with Noordlease management and acquired Noordlease from Alphabet Nederland B.V. (a division of BMW Group) via a MBO (Management Buy-Out).. Hitachi was looking for an acquisition target to expand further its current activities in Europe. Noordlease proved to be a very interesting proposition thanks, in particular, to the quality of its portfolio and its cost-efficient operations.

Noordlease BV, which was incorporated in 1982, has its registered office in Groningen. It is a leading, independent and universal lease company that develops creative mobility solutions for both individual and corporate customers. The total fleet consists of more than 10,000 vehicles. Noordlease has about 50 employees.

Further development

Robert Oei, Managing Director of NIBC: ‘When we assisted Robert and Gert in the Noordlease management buy-out from the Alphabet group, we had a unique opportunity to support a strong management team in achieving its growth ambitions and helping Noordlease in the next step of its development. The sale of Noordlease to Hitachi provides management with an excellent opportunity to develop further their objectives. NIBC wishes Robert and Gert and the people at Noordlease all the best together with their new shareholder.’

NIBC Mezzanine & Equity Partners is a division of NIBC Bank NV; it invests risk-bearing capital in medium-sized Dutch companies in order to support growth ambitions, management buy-outs and project investments.

European expansion

Jeroen van Onna, Investment Manager at NOM Finance: ‘Hitachi is a strategic, financially sound buyer and a newcomer in the car leasing business Europe on the European continent. The acquisition will bring Noordlease in a next phase: from now on, Noordlease will serve as the platform for Hitachi’s European expansion in the car leasing business. Team NOM is proud to have contributed to the success of Noordlease and this important next step.’

 

Geert Buiter, Manager of NOM Finance: ‘We are delighted with this next step in the bright future of Noordlease in Groningen. Thanks to the acquisition by Hitachi, we have all confidence in the future of the business, and employment level and opportunities in the city of Groningen. We would like to take this opportunity to congratulate Hitachi, Noordlease and its employees on this great achievement’.

Investerings- en Ontwikkelingsmaatschappij voor Noord-Nederland (NV NOM) is an independent public company which strengthens the northern Dutch economy by providing loans, making acquisitions and pioneering projects. By mid-February 2017, more than EUR 70 million will have been invested in nearly 90 businesses that are, or are to be, located in the northern Dutch provinces of Groningen, Friesland or Drenthe.

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