- 80 jobs secured across van rental business at four UK locations
- Former TOM Vehicle Rental subsidiary becomes part of Dawsongroup vans
- Over 3600 van assets involved in move
- “This business can progress…” says Dawsongroup CEO
The trade, business and assets of Transflex Vehicle Rental, part of the troubled TOM Group placed into administration in March this year, have been bought by Dawsongroup in a move that significantly strengthens its own vans operation. Speaking about the deal, which sees family-owned Dawsongroup also take on the 80 Transflex staff faced with redundancy, Steve Miller said, “The troubles of the TOM Group show how tough the rental business has been for some companies. It is fortunate that our own business has shown strong growth over the years, and continues to do so, so we undertake this rescue with confidence: confidence in the Transflex team; confidence in the quality of their fleet; and confidence in our own ability to put the two operations together to make an even stronger whole. What we will bring to the mix is a strong customer-focus, supported by proven management styles and disciplines honed while developing our own hard-earned success over the past 40 plus years.”
The current Dawsongroup vans fleet will be significantly strengthened by the addition of assets currently on the Transflex fleet, which operates around 3,600 vans of various types. The acquisition pushes Dawsongroup vans overall fleet numbers to around 9,000. The independent Milton Keynes-based rental, leasing and finance operation also has eight dedicated locations in its van business, which was launched in 2011. These will be boosted by the addition of the four Transflex branches – Stockton, Manchester, Bristol and Buckingham. “The branch locations sit well within our current Dawsongroup vans network,” says Miller, “and the Transflex senior management team will be given all the support they need to get their operations quickly back on track. With the stability now given to them and their customers, this business can progress and integrate into our own vans operations and our wider group, both of which have been growing steadily. They will deliver a solid and growing contribution and we are delighted to welcome them.
The TOM Group administrators from EY (Ernst & Young LLP) have been working hard to try and place various elements of the TOM Group operations, and are pleased with the work now done with Dawsongroup to secure the future of Transflex Vehicle Rental. Dawsongroup Finance Director, Tony Coleman, who has been working round the clock on the negotiations, said, “It has been a case of speed and commitment. The Transflex funders and the advisors recognised the ability of Dawsongroup as an independent company to work swiftly and with genuine integrity, and I thank them for that. It was instrumental in delivering an important result which has saved 80 jobs.”
Colin Dempster, joint administrator, said: “This has been a difficult time for staff in recent weeks and I would like to thank them for their patience and support. We are pleased to have secured the future of the business and the employees and wish them well with Dawsongroup.”