The firm has signed a share transfer agreement to acquire 90% of the shares of Corpo Flota, making the company a majority owned subsidiary.

Corpo Flota operates a comprehensive car fleet management business in Poland, including auto leasing, maintenance and fleet management.

Hitachi Capital said it has been conducting market research in several European countries, including Poland, as part of a planned expansion into Europe. The acquisition of Corpo Flota allows the business to combine its experience in the UK car and commercial vehicle leasing markets with local management expertise and supports an immediate market entry to capitalise on growth prospects as European markets recover from recession.

Simon Oliphant, CEO Hitachi Capital Vehicle Solutions, commented: ‘We’re delighted to welcome Corpo Flota to the Hitachi Capital Group as this is a demonstration of our commitment to expand into the European market. Not only can we share our expertise and knowledge of the vehicle leasing industry in the UK, but working with the team in Poland will provide us with a valuable insight into the Polish market and is an excellent platform for growth across the rest of Europe.’