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ALD Automotive completes acquisition of LeasePlan, makes local mgt changes

With this deal, the combined entity now has a total of 3.31 million vehicles managed worldwide

Automotive slump & industrial policy

BS Reporter Chennai

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Global lease mobility player ALD Automotive has successfully completed the acquisition of 100 per cent stake in LeasePlan, a leading fleet management and mobility company, from a consortium led by TDR Capital.

With the acquisition, the combined entity now has a total of 3.31 million vehicles managed worldwide. By joining forces, ALD Automotive and LeasePlan will lead the way to net zero and further shape the digital transformation of the industry. The combined entity will leverage on scale and complementary capabilities to strengthen its competitiveness and deliver sustained growth.

Following the completion of this acquisition, ALD Automotive and LeasePlan in India will begin the process of integrating into one company, subject to regulatory approval. To lead strategic development of the combined entity in India, Tim Albertsen, Chief Executive Officer of ALD Automotive | LeasePlan, has appointed Suvajit Karmakar, previously General Manager of ALD Automotive in India, as Country Managing Director and Asia Sub-regional Director, overseeing business activities for the Group in Malaysia and Thailand, with immediate effect.

Karmakar is one of the key talents selected from both ALD Automotive and LeasePlan, who is best positioned to implement the combined entity’s challenging integration plan moving forward and successfully deliver the strategic development growth targeted in the coming months and years, the company said in a statement.

Karmakar has been working with ALD Automotive India since 2005 where he joined as Country Head – Sales & Marketing and was elevated to the position of the CEO and Whole Time Director of the Company in January 2013. Prior to joining ALD Automotive, Suvajit worked with organisations including ICICI Bank, Whirlpool of India and Philips India (Consumer Electronics division). He has a Bachelor's degree in Computer Science and a Masters in Business Administration.

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First Published: May 23 2023 | 9:11 PM IST

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