Daimler AG disclosed it will take another year to complete the integration of Athlon Car Lease International, which it acquired earlier this year, making the German automaker one of the largest managers of vehicle fleets Europe.
Daimler Financial Services has received regulatory approval for the acquisition of Athlon from De Lage Landen International Group, which belongs to Dutch Rabobank.
The company put up $1.2 billion to acquire Athlon, a leader in fleet management company across Europe, so Daimler Financial Services can expand the company’s “business mobility” services with Daimler Fleet Management.
“The importance of business mobility continues to grow. With the acquisition of Athlon, we are strengthening our competitive position in business mobility. Both Daimler Fleet Management and Athlon have a strong heritage and are successful in the market,” stated Bodo Uebber, Board of Management member of Daimler AG responsible for Finance and Controlling and Financial Services.
“With a combined portfolio exceeding 350,000 vehicles we will be an important player in the European fleet business. With Athlon, we will enhance our mobility solutions for companies,” stated Klaus Entenmann, chairman of Daimler Financial Services AG.
The integration in all European markets is expected in 2018. In the future, customers will benefit from an extended offer and optimized processes, Entenmann said.
Gero Goetzenberger, CEO of Daimler Fleet Management since 2012, was named new CEO of Athlon. Frans Janssen, former CEO of Athlon, will become Chief Commercial Officer. The headquarters for the company will be in Almere, Netherlands.“We now hand over our vehicle leasing business to a company that possesses all the prerequisites to continue Athlon’s track record of success,” stated Bill Stephenson, CEO and Chairman of the Executive Board of De Lage Landen International, the former holding company of Athlon Car Lease International.
“We want to become the leading provider for business mobility in Europe. Our 1,800 employees are committed to delivering on this promise. With our experience and passion we will extend our offer and grow,” stated Goetzenberger.
The company’s presence in Europe spans across fourteen countries: Austria, Belgium, Czech Republic, Germany, France, Great Britain, Italy, Luxembourg, the Netherlands, Poland, Portugal, Spain, Sweden and Switzerland. Furthermore, Athlon cooperates with partners in more markets.
