BRIDGEPOINT takes majority stake in ZENITH

HgCapital has entered into a definitive agreement to sell its entire majority shareholding in Zenith to private equity firm Bridgepoint. This divestment follows a highly successful investment cycle initiated by HgCapital's acquisition of Leasedrive in December 2013 and its subsequent strategic merger with Zenith in February 2014, a corporate consolidation engineered to capture substantial economies of scale. Under the new ownership structure, Bridgepoint will assume full control of the business, partner with the incumbent management team, and establish a new institutional framework to fund the company's next phase of commercial expansion. The acquisition provides to Bridgepoint operational control over a best-in-class vehicle outsourcing asset that features an unbroken track record of growth and a resilient business model, with future revenues highly predictable due to long-term commercial contract lock-ins. The post-closing corporate strategy will be led by the existing executive team under CEO Tim Buchan, focusing on sustaining double-digit compounding growth through continuous capital allocation toward proprietary system developments, enhanced customer service frameworks, and targeted international M&A and acquisition activity. The transaction was signed in January 2017 and is subject to customary closing conditions.