Hitachi Capital acquires Noordlease
Hitachi Capital Corporation has signed a deal to acquire Noordlease in the Netherlands, becoming the first Japanese leasing to company to enter the market.
The deal with the Noordlease shareholders will see Hitachi acquire all of the outstanding shares of the company for an undisclosed amount, making Noordlease a subsidiary of Hitachi Capital Corporation.
Noordlease was established in 1982 and provides auto leasing and related services in a market that is continuing to expand. The company reported revenues of approximately 8.5 billion yen (70 million euros) for the fiscal year ended 31 December 2015.
The company is aiming for further business growth and expansion in continental Europe as a result of the acquisition.
The deal forms part of Hitachi Capital’s ‘Vehicle Solutions’ business plans to proactively execute M&As in Europe and the Americas, and the Netherlands is Hitachi Capital’s third European base following the UK and Poland.
Hitachi Capital said it would continue to seek further new business opportunities for its Vehicle Solutions business “in order to expand and achieve systematic growth on a global basis in the future”.
The acquisition of Noordlease is expected to have a minimal impact on the results for the year ending 31 March 2017.