When was ZENITH acquired by MORGAN STANLEY PRIVATE EQUITY?

ZENITH was acquired by MORGAN STANLEY PRIVATE EQUITY in 2010.

What was the revenue of ZENITH at the time of the deal?

The revenue of ZENITH at the time of the deal is estimated to be in the range of 100M - 200M GBP.

How is the data for the ZENITH acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the ZENITH deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.morganstanley.com/im/en-ch/intermediary-investor/insights/press-release/ms-private-equity-to-acquire-majority-stake-in-zenith-vehicle-contracts-group-limited.html

What is the average EV/EBITDA multiple for the Financial Services sector in 2026?

The average EV/EBITDA multiple for the Financial Services sector in 2026 is 12.4x.

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Home Database Financial ServicesZENITH

08/2010

MORGAN STANLEY PRIVATE EQUITY takes majority stake in ZENITH

UNITED KINGDOM Specialty Finance / Asset Leasing & Financing / Fleet Management Finance REV 100M - 200M GBP

Context

Morgan Stanley Private Equity (MSPE) has entered into a definitive agreement to acquire a 60% majority controlling stake in Zenith Vehicle Contracts Group Limited. The equity interest is being acquired through a management buyout from funds advised by Barclays Private Equity (BPE) and Zenith’s management team. Under the transactional framework, Zenith’s executive team will roll over a portion of their equity to retain a 40% minority stake in the business. The transaction is subject to standard regulatory approvals and marks the company's fourth buyout in seven years for the Leeds-based corporate car leaser. It also represents the sixth investment deployed on behalf of the Morgan Stanley Capital Partners V fund.

ZENITH, which reported an EBITDA margin of in 2010, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Financial Services sector (12.4x).

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Target

Zenith Vehicle Contracts Group Limited operates within the mobility sector as the UK’s largest independent provider of vehicle leasing, fleet management, and vehicle outsourcing solutions. Backed by an operational history spanning over 25 years, the company’s business model centers on delivering integrated mobility services to corporate enterprises and individual clients. The platform’s core asset infrastructure relies on the management and optimization of a scaled commercial risk fleet encompassing 27,300 vehicles.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (GBP)

Year

Rev

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2010

2009

Other operations with ZENITH

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
01/2017	BRIDGEPOINT	ZENITH	UNITED KINGDOM	Fleet Management Finance
01/2014	HG CAPITAL	ZENITH	UNITED KINGDOM	Fleet Management Finance

REFERENCES

Revenue range: 100M - 200M GBP

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ZENITH by MORGAN STANLEY PRIVATE EQUITY are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: zenith

Acquirer: morgan stanley private equity