ALD has finalised its acquisition of SternLease BV, the leasing arm of Dutch dealer group Stern Group for an undisclosed amount.

The completion follows the signing of the acquisition agreement on 1 March 2019

The deal follows plans announced in February 2019, with an acquisition agreement signed on 1 March.

SternLease has a fleet of around 13,000 vehicles rented to SMEs and private individuals in the Netherlands, and provides leasing services through direct distribution and Stern’s network of 85 local dealerships.

ALD already manages a fleet of around 50,000 vehicles in the Netherlands with large corporates, SMEs and private individuals, and the deal will position the company as the fifth largest player in the market. Globally, ALD manages some 1.68m vehicles.

The deal with Stern Group will also expand ALD’s commercial reach through the additional signing of a dedicated distribution agreement to provide access to the local dealership network for the exclusive distribution of ALD leasing services for SMEs and private individuals.

ALD said the acquisition shows its focus on targeted and value accretive bolt-on acquisitions, as well as showing its strategy of adding value for its partners and clients through a wide range of services included in the full service leasing offer.