Banca Transilvania has sold BT Operational Leasing to Autonom Rent a Car
May 2018 — Banca Transilvania, the second largest Romanian bank, has sold BT Operational Leasing, its operational leasing division to Autonom Rent a Car, the largest rental company in Romania. Financial details have not been disclosed.
BT Operational Leasing operates in the Romanian leasing sector and is affiliated to the second largest financial group in the country, Banca Transilvania. The company’s fleet has seen yearly double-digit growth during the post-crisis period, rising from 454 to 3,000 units between 2011–2017. Approximately 1,740 of those are passenger cars (mostly Skoda brand) and the rest are commercial vehicles (mainly Ford and Fiat brands). BT Operational Leasing has strong profitability and operating performance posting an average return on equity of 38.8% and return on assets of 3.8% in 2015–2017.
Autonom Rent a Car is the largest rental company in Romania, with a national coverage of 44 centers in 33 cities and a fleet of over 3,000 new cars. I also offers operating lease services.
Banca Transilvania is the bank for entrepreneurial people in Romania. It is ranked second amongst Romanian banks, in terms of assets. Banca Transilvania’s mission is to support the development of the business environment through innovative products and services. The bank’s strategy is supported by strong shareholders such as the European Bank for Reconstruction and Development and IFC – the World Bank's investment arm.
Our role in the transaction
Oaklins' team in Romania acted as sole advisor to the seller and the management of BT Operational Leasing in the preparation of the sale process and due diligence, the approach and parallel negotiations with potential buyers, and assisted them until closing. Oaklins' teams around the world approached potential buyers.
Talk to the deal team
Related deals
WestBridge has made a majority investment in Beckett Investment Management
WestBridge Fund Managers Limited has agreed to make a majority investment in Beckett Investment Management Group, a leading financial planning business in the east of England. The transaction is the fifth investment from WestBridge III and is subject to regulatory approval by the Financial Conduct Authority (FCA).
Learn moreMoneybox’s employee share sale has set another milestone for London’s Private Securities Market
The London Stock Exchange’s Private Securities Market (PSM) continues to demonstrate its potential as a venue for providing shareholder liquidity in high-growth private companies. Following the successful employee share sale for autonomous driving pioneer Wayve earlier this month, fintech leader Moneybox has completed a US$61 million (£45 million) employee liquidity event through the PSM. By structuring the transaction as an employee liquidity event, long-serving employees with vested equity have been able to realize some of the value they helped create while enabling Moneybox to remain private and continue its growth journey. Crowdcube managed the employee seller and investor participation process.
Learn moreEducbank has been acquired by Cogna
Cogna Educação, through its subsidiary Somos Sistemas de Ensino, has acquired an additional 47% stake in Educbank for approximately US$8.9 million, increasing its ownership from 43% to 90% and consolidating control of the platform. The transaction expands Cogna’s presence beyond its traditional enrollment-driven education business into the financial infrastructure that underpins school tuition collection.
Learn more