Combination of LeasePlan USA with Wheels Donlen

13 Jun 2022

We are pleased to announce that Athene Holding, the lead investor behind Wheels Donlen, and LeasePlan, one of the world’s leading Car-as-a-Service companies have signed a Stock Purchase Agreement for Athene to acquire 100% of LeasePlan USA, and subsequently combine the business with Wheels Donlen to create a unified fleet management business. This combination creates a strong competitor in mobility, which will allow Wheels Donlen and LeasePlan USA to provide enhanced solutions in corporate fleet management. Benefitting from added scale, materially increased investment capacity, and differentiated capabilities, the combined company will be better positioned to service customers and facilitate growing trends towards electric vehicles and digital technologies. With $246 billion of assets, Athene will be well positioned to provide the combined company with deep capital support for its go-forward businesses to offer clients an enhanced suite of solutions across fleet, last-mile delivery, trucking, and equipment.

Additionally, as part of this transaction, LeasePlan USA and LeasePlan Corporation will enter into a Cooperation Agreement to deliver global fleet management services to both companies’ international clients following the completion of the transaction. Likewise, the existing global alliance between Wheels Donlen and ALD will also continue.

The transaction is expected to close by the end of 2022, subject to customary closing conditions including regulatory approvals.

LeasePlan CEO Tex Gunning commented: “The subscription megatrend and the digital revolution mean the US leasing market is about to enter a period of accelerated growth and transformation. By joining forces with Wheels Donlen, LeasePlan USA will have the scale and investment firepower necessary to serve its growing customer base and accelerate the future of mobility for American drivers. We are very proud of the business we have built-up in the US and are confident our colleagues will achieve every success as they put full focus on the unique US market.”

Learn more about our investment in LeasePlan.

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