In February 2007, CVC Funds acquired Fraikin. Fraikin is a leading commercial vehicle operational leasing company, which operates in France, the UK and a number of other European countries.
The business has three main activities: (i) long term leasing of trucks and vans; (ii) long term fleet management for third parties; (iii) short term rentals. Since December 2009, the company has had a managed fleet of 60,000 vehicles (of which over 51,000 are owned), making it the most extensive independent fleet in Europe.
Fraikin ranks number one in France and number two in the UK, Spain and Belgium thanks to its unique network of 230 service points. Overall, approximately 85% of Fraikin revenues are linked to long term contracts up to nine years (four and a half years on average).
Fraikin serves a diversified portfolio of 6,000 customers. The company clients include companies for whom transport is not the core businesses and transporters for third parties.