GAP owners sell vehicle rental business
12 October 2022
The owners of GAP Group, Douglas and Iain Anderson, have sold their UK vehicle hire company to Sixt. The price has not been disclosed.
The vehicle hire operation - which reported revenues of £23.4 million in the year to 31 March 2021 - was created in 2014 and operates from four locations in the UK. GAP said the business was a private venture sitting outside the main GAP Group rental company.
The company rented light commercial vehicles and 4x4s to mainly construction-related customers.
GAP told IRN; “Throughout the sale process it was clear that both businesses shared the same family orientated, customer first values which will make the transition to Sixt seamless.
“GAP Group and Sixt will continue to work closely together, partnering on key mutual customers as Sixt expands its LCV rental presence in the UK. Douglas and Iain Anderson wish the Sixt family every success in this exciting period for vehicle rental.”
The vehicle hire business reported pre-tax profits of £1.57 million in the year to 31 March 2021, double the previous year.