PARIS--(BUSINESS WIRE)--Feb. 25, 2019--
Europcar Mobility Group(Paris:EUCAR), a major player in mobility
services, announces the acquisition1 of Europcar Finland and
Europcar Norway. This single transaction marks the fourth and fifth
national franchises acquired by the Group and extends its corporate
network from 18 to 20 countries, thus reinforcing its European footprint.
The companies are acquired from Matti and Jussi Holopainen, who will
remain with the business.
Both businesses hold strong positions in their respective national
markets (N°1 in Finland and N°3 in Norway) with customer bases covering
both leisure travelers and the corporate market. The combined revenue of
the two businesses was approximately €56m in 2018.
In Finland, Europcar is the undisputed market leader with a 31% market
share. The business has a network of 56 branches throughout the country,
located in cities and at all the major airports, and operates an average
fleet of 3 000 vehicles cars and vans. The business has a very strong
service culture and is well positioned to benefit from the growing
tourist market in Finland along with a number of important
In Norway the business has been recovering since its purchase by the
Holopainens in 2014. Through a mixture of investment in new systems,
station upgrades and a program of acquiring domestic sub-franchisees in
Norway, the business has returned to profitability and expects strong
top and bottom line growth.
As is usually the case when acquiring a franchisee, there are
significant potential synergies to be extracted, particularly in fleet
purchasing and fleet financing, as well as more medium term savings
opportunities in back office functions across the Nordic region. The
businesses will also benefit from the Group’s assets and expertise in
e-commerce in order to boost their performance in that area and to
support their development plans through the mobility services offered by
Europcar Mobility Group to their customers.
For Olivier Baldassari, Chief Countries and Operations Officer of
Europcar Mobility Group: “We are delighted to welcomeEuropcar
Finland and Europcar Norway with Jussi and Matti Holopainen into the
Group. These two new corporate countries are profiled to support the
growth of Europcar Mobility Group in Northern Europe. These acquisitions
will fit nicely into our Leverage and Scale Up strategic framework,
expanding our services into new countries, while leveraging on our core
assets and achieving synergies”.
Jussi and Matti Holopainen commented: “We are happy to become part of
the Europcar Mobility Group and believe this will offer us a strong
competitive advantage to continue our growth in Finland and Norway. Both
of us are entrepreneurs and we want to bring this entrepreneurial spirit
to the development plans and to Europcar Mobility Group. With this new
opportunity, we see possibilities to also share our best practices and
get the most of the Group’s expertise”.
About Europcar Mobility Group
Europcar Mobility Group is a major player in mobility markets and listed
on Euronext Paris.
The mission of Europcar Mobility Group is to be
the preferred “Mobility Service Company” by offering alternative
attractive solutions to vehicle ownership, with a wide range of
mobility-related services: vehicle-rental, chauffeur services,
car-sharing, scooter-sharing and peer-to-peer car-rental.
satisfaction is at the heart of the Group’s mission and all of its
employees and this commitment fuels the continuous development of new
Europcar Mobility Group operates through multi brands
meeting every customer specific needs; its 4 major brands being:
Europcar® - the European leader in vehicle rental services, Goldcar® -
the most important low-cost car-rental company in Europe, InterRent® –
‘mid-tier’ brand focused on leisure and Ubeeqo® – one of the European
leaders in car-sharing (BtoB, BtoC).
Europcar Mobility Group
delivers its mobility solutions worldwide through an extensive network
in 135 countries (including 16 wholly owned subsidiaries in Europe, 2 in
Australia and New Zealand, franchises and partners).
1 These acquisitions are subject to customary conditions
precedent, and are expected to close in Q2 2019.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190224005154/en/
Source: Europcar Mobility Group
Valérie Sauteret / Marie-Anne Bénardais
1 80 20 92 92
+33 1 80 20 91 81
Marie Quinette / Arthur Veyrat d’Urbet
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