BGF invests £7.5m in Reflex Vans
BGF invested £7.5m in flexible van hire company, LCV Hire Solutions Ltd, which trades under the Reflex brand (“Reflex”), to support the continued expansion of its fleet of light-commercial vehicles and fleet cars in conjunction with the provision of industry-leading customer service.
From its base in Loughborough in the East Midlands, Reflex provides its corporate customers with national, round the clock services. Reflex also offers a range of duty of care products, marketed under the ‘Flexi’ brand, including tracking systems, cameras and driver safety products. The company currently has 3,500 vehicles in its fleet and aims to grow this to 10,000 over the next five years.
Reflex was acquired in 2012 by the Waring Family and is led by Executive Chairman Oliver Waring who, with Managing Director Charles Hart, has managed the business through a period of significant growth. Both Waring and Hart have many years of experience in the light commercial vehicle sector having been key people in the building of Northgate plc to become market leader in the flexible rental sector.
Stewart Oades was appointed as a Non-Executive Director and joins existing Non-Executive Director Tony Trahar, former CEO of Anglo American plc. Oades brings extensive experience in logistics and fleet management having served on the main board of Exel and as former group chief executive of Christian Salvesen. Ian Downing, an investor at BGF, joined the Board as part of the investment.
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