Under the acquisition, which was announced earlier this year, LeasePlan has acquired 100% of the share capital of the Vienna-based firm.

The company said the move enables it to further expand into the profitable Austrian small and medium enterprise sector, and further supports LeasePlan’s selective growth strategy.

Nigel Storny, managing director at LeasePlan Austria, said: ‘We see the transaction as an excellent strategic fit and we are looking forward to welcoming our new colleagues.’