Clearwater International has advised Burnt Tree, the UK’s largest commercial rental vehicles provider, on its cross-border sale to Enterprise Rent-A-Car.
Shrewsbury-headquartered Burnt Tree has been operating for more than 30 years and ranked 14th in this year’s Sunday Times Profit Track 100, with profits jumping from £1.4m in 2009 to £10.3m in 2012.
The deal will see Enterprise take on Burnt Tree’s diverse commercial fleet of 17,000 vehicles, including commercial vans, HGVs, refrigerated trucks and accessible minibuses, its proprietary fleet management technologies, as well as its network of 20 branches and a team of 400 employees.
The acquisition increases the breadth of vehicles and services that Enterprise can provide to its customers under its flexible commercial vehicle division, Flex-E-Rent. In the immediate short-term, the Enterprise Flex-E-Rent and Burnt Tree businesses will continue to operate as two brands, with a view to creating a combined entity which will be headquartered in Shrewsbury.
The Business Services team at Clearwater International advised Burnt Tree on the sale, led by partner Paul Jones with support from director John Clark and associate director John Davies.
Paul Jones, partner at Clearwater International
Richard Metcalfe, CEO at Burnt Tree