Announced in July last year, Alphabet’s acquisition of ING Car Lease is set to create a goliath in the European leasing sector.

The transaction gives Alphabet a fleet of over 460,000 financed cars under contract (based on end of August figures) with representation in 19 countries.

For many companies the sheer logistics of combining two major leasing firms would take up the lion’s share of its activities over the coming months and years. But the merged firm, which will continue to bear the Alphabet name, has bigger plans for the fleet sector.

Although the full European management structure is yet to be announced, Alphabet has already revealed that it will be run by joint CEOs Norbert van den Eijnden, the former head of Alphabet International, and Ed Frederiks, previously CEO of ING Car Lease.

And the firm has made it clear that all current staff will be retained, both as part of a move to ensure continuity of customer service and as part of its expansion plans – which are significant.

Speaking to International Fleet World, Mr van den Eijnden says: ‘We have made clear statements about this to all our employees – we will keep the same kind of account managers and the same level of account managers with the customers. This merger is not something to reduce cost or win efficiency but it is a growth strategy.

‘And today if you look at it we are number four or five in Europe and we want to become – in the first stage – number two.’ He adds: ‘LeasePlan is almost twice as big as we are but we will come closer. And sooner than they like it.’

Alphabet is keen to emphasis that elements of both companies will be included. Mr Frederiks says: ‘What you can see in this combination is that it is very complementary to each other in a great many ways – geographically as well for many other things. 

‘Basically we still start from the point of view that there will not be any changes for both sides of the customers other than maybe improvements. Let’s just say in one sentence that our goal in life is to exceed customer expectations with the excellent products that we already have.’

Since the merger was announced, Alphabet has emphasised that it will continue with its multi-make approach across Europe. Mr Frederiks says: ‘It is really our ambition to continue what we are already today, which is to be the best multi-make fleet leasing company in the business. We are not going to leave that for any reason.’

Overall corporate mobility will also continue to be a major emphasis, with Mr Frederiks saying: ‘We have very clear ideas on how the fleet of the future will look. That is quite some years away but the way to get is there I believe for many companies an important question. We think that with our mobility ideas we can really help them grow there in a very responsible and decent manner, not only financially but also environmentally and efficiently – I think this will be the great benefit of this combination. 

And what about other advantages of the merger for customers? Mr Frederiks says: ‘There’s a great series of benefits. First of all the combined company reaches a substantial better scale than each of them individually – so that brings about that we will be available in the countries where we were somewhat smaller in the past and that we are today to really improve the offering.

‘Next to that that’s another type for the top fleet – the top fleets and the very large customers. We have now completed the European coverage in a very good manner so there’s a lot of crossovers that we can serve a lot better. 

‘It also means that our international knowledge is improved a great deal – we are now truly an international leasing company. And this means a number of benefits that we can bring forward for the customers.’

Mr Eijnden concludes: ‘We have clearly shown with this investment that we see this as a core business and that we will invest in it. We will invest in modern technologies to make all kinds of flexible use of cars and fleets and flexible use of electrical vehicles. I think we are a step ahead there of our competitors.’