Bryan Cave Leighton Paisner Advises BT Group Plc on Strategic Carve-Out of BT Fleet Solutions

August 7, 2019

Bryan Cave Leighton Paisner (BCLP) has advised FTSE 100 BT Group PLC (BT) on the acquisition of its leading end-to-end commercial fleet management operator, BT Fleet Solutions, by pan-European investment group, AURELIUS Equity Opportunities SE & Co (Aurelius) and a long-term, high-value outsourcing arrangement to continue management of BT’s own fleet. 

The transaction is due to complete in the second half of 2019 with the parties involved agreeing not to disclose the purchase price of the UK’s number one commercial fleet management business, which showed revenues of £209.5 million in its latest statutory accounts.

BT Fleet Solutions manages more than 80,000 vehicles for over 26 blue chip customers across diversified industries around the UK. Over the coming months, Aurelius’ operational task force will support BT Fleet Solutions in executing a carve-out from BT, ensuring a seamless continuation of the company’s day-to-day operations. Looking ahead, Aurelius will work with BT Fleet Solutions’ existing management team to maintain its market-leading position and drive growth for the business.

The divestment aligns with BT’s ongoing transformation program and strategy of focusing on converged connectivity and services, with further investments in both its fixed and mobile networks. 

BCLP’s advisory team was led by London-based outsourcing and M&A Partners respectively, Marcus Pearl and Ben Lee.

Partner and BCLP Relationship Partner for BT, Marcus Pearl, commented: “The acquisition of the multi-award winning market leader, BT Fleet Solutions by Aurelius is an exciting and compelling opportunity for the BT group, its people and customers. We are pleased to have advised BT on this important and strategic transaction, as part of its ongoing transformation program. Our London corporate and outsourcing teams both continue to go from strength to strength, and we look forward to continuing to grow our close relationship with BT across the firm.”