Alphabet finalises acquisition of ING Car Lease

International fleet management firm Alphabet has completed its acquisition of ING Car Lease.

The acquisition, which was announced in July, was for a purchase price of €637 million, and was completed on 30 September.

The integrated organisation will operate under the name Alphabet.

The new organisation now has more than 460,000 financed cars under contract (at the end of August) and is represented in a total of 18 countries.

Norbert van den Eijnden, head of Alphabet International and co-chief executive officer (CEO) of the new business, said: “Alphabet and ING Car Lease complement each other well in all business areas.

“It is a perfect marriage that will open up many new opportunities for the organisation.”

Ed Frederiks, former CEO of ING Car Lease and co-CEO of the integrated business, added: “Our customers and prospects will benefit from our stronger positioning and we will be able to optimise our portfolio.

“We are building on the expertise and experience from the past to innovate and effectively incorporate sustainability and mobility in fleet management.”

Read more articles on international fleet management