Acquistion of LHS and DSL

22 December 2006

The fleet service provider Alphabet is strengthened by the take-over of LHS Leasing and DSL Fleetservices from DEKRA AG and Südleasing GmbH. The contract was signed today. The take-over still is under the reservation of the permission of the competition authorities. Alphabet grows with the purchase of LHS leasing and DSL Fleetservices by 53,700 units, belongs in Germany to the strongest suppliers in terms of volume and moves in Europe into the top 10 under the fleet suppliers.

Alphabet, an international provider of full-service leasing and fleet management for all makes of vehicles, acquires LHS Leasing- und Handelsgesellschaft mbH and DSL Fleetservices GmbH, both with headquarter in Stuttgart. The previous owner was DEKRA SüdLeasing Services GmbH, in which Landesbank Baden-Württemberg (LBBW) had a 75 per cent stake via SüdLeasing GmbH and DEKRA AG a 25 per cent stake.

In purchasing LHS Leasing and DSL Fleetservices, Alphabet in Germany has expanded by 53,700 units and now has no less than 119,000 vehicles under contract in Germany, more than 200,000 internationally. This business transaction makes Alphabet one of the three largest fleet suppliers in Germany and places it amongst the European top ten for the first time. Alphabet thus strengthens its position in the highly competitive fleet market to become one of the fastest growing suppliers.

According to Karl-Heinz Kral, Head of Alphabet: “The acquisition of LHS Leasing and DSL Fleetservices underlines the significance of Germany as a core market for Alphabet. In particular, the purchase will have a positive impact on customer support. In particular, the acquisition of DSL Fleetservices strengthens the services provided in the field of fleet management. Together, we aim to strengthen the relationship to our existing customers and gain new clients not only in Germany, but internationally as well."

At the parent company in Stuttgart and nine sales offices, LHS Leasing and DSL Fleetservices together have a workforce of roughly 300.


Alphabet contact: Stefan Liebl on +49 89 59 042 1165