MMG Invest GmbH has sold Maske Group, a car rental company, to Hitachi Capital Corporation. Financial details have not been disclosed.
Maske Group is a provider of long-term car rental solutions. The company's fleet consists of more than 9,500 cars and is mainly focused on light industrial vehicles and passenger cars for B2B clients. The group is headquartered in Northern Germany and operates eleven service workshops throughout Germany and one in Austria. Maske Group generates annual sales revenues of about US$85 million.
Hitachi Capital Corporation is a globally positioned financial services provider. The group's business was already present in numerous European countries. With this acquisition, Hitachi expands its European vehicle solutions activities and becomes a market leading player in the DACH region.
Oaklins' team in Germany acted as the exclusive sell-side advisor, running a structured international sale process.
Andreas Maske, Shareholder of Maske Group, said: "Looking back, I am actually impressed by the scope and complexity that a structured and international sales process brings along. Oaklins' German team acted as sparring partner at eye level and showed a high level of expertise and experience throughout the overall sale process. Arranging my succession with Hitachi Capital as future shareholder therefore fully complies with my plans and expectations."
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