Leeds’ Nexus Vehicle Rental gets in gear as revenues hit £84.1m

Leeds firm Nexus Vehicle Rental is celebrating after achieving double-digit revenue growth.

The tech-driven business mobility provider generated a turnover of £84.1m in the 12 months to September 30 2018, up 43.5% against the year previous.

The figures cap a busy 12 months for Nexus, during which the firm secured a £142m private equity investment from London-based Phoenix Equity Partners to expand and develop its rental booking and management platform, IRIS.

2018 also saw Nexus overhaul its mobile site to provide an on-the-move mobility management service, and launch an improved management information suite.

Nexus manages around 200,000 individual vehicles annually, including 66,000 commercial vehicles and 6,000 HGVs. Its fleet has collectively driven over 750 million miles, which is equivalent to 30,000 times round the equator.

In November, the company celebrated its two millionth booking.

CEO David Brennan said: “In a year that’s been dominated by ongoing economic uncertainty, we are proud to have remained focused on growing our business while providing outstanding levels of service for our clients and rewarding careers for employees.

“It’s no mean feat to report our fifth consecutive year of double-digit growth and we are taking advantage as businesses are increasingly switching to short and medium-term mobility solutions to combat a lack of clarity within the current economic climate.”

He added: “I’d like to pay tribute to all our staff, suppliers and customers that helped us build and improve our business in 2018 and I am tremendously excited about the year ahead.”

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