Lex Autolease

Lex Autolease is a United Kingdom vehicle-leasing and fleet-management business associated with Lloyds Banking Group. The brand was created in May 2009, when Lex Vehicle Leasing and Lloyds TSB Autolease were combined following Lloyds TSB Group's acquisition of HBOS. The merger brought together two long-established contract-hire operations and created a large platform serving business fleets, public-sector users and other customers requiring vehicles through leasing rather than outright purchase. The business's roots extend considerably further back than the Lex Autolease name. Lex entered the contract-hire market after acquiring British Colonial Motors in 1959. It subsequently expanded through acquisitions and related operating businesses, including Controlled Cost Motoring in 1969, Lombard Contract Hire in 1983 and Fleetdrive in 1988. The Autolease side of the business was established in 1959 by Britax, which also owned Bristol Street Motors. Through successive ownership changes and combinations, the Lex operation became Lex Vehicle Leasing, which was owned by Aviva within RAC plc by 2005 and by HBOS from 2006 until the Lloyds-HBOS transaction. At formation, the newly combined company inherited a substantial financial and operational base; the reference material records debt of approximately £2.4 billion at the time of the merger. Its scale also reflected a broad network of vehicle procurement, financing, maintenance, administration and remarketing activities. In the first decade of the 2000s, the business lost several significant commercial relationships, including contracts associated with HSBC Vehicle Finance, Ford Business Partner and Volvo. These losses illustrate the competitive nature of fleet leasing, where manufacturer relationships, financing capacity, service quality and total cost of ownership are important factors. Lex Autolease later invested in physical vehicle-processing infrastructure. In 2014 it opened a multi-million-pound car supermarket and vehicle-processing centre in Coventry, reportedly creating 30 jobs. The facility was subsequently closed within two years, indicating that the operating model or commercial requirements for the site did not persist. Despite these changes, Lex Autolease remained a major participant in the United Kingdom market. The Wikipedia reference describes it as the country's largest vehicle-leasing business, with a fleet of approximately 385,000 vehicles, and states that around one in every thirty new cars sold in the United Kingdom was financed through Lex Autolease. These scale indicators should be treated as historical reference claims rather than a current independently verified fleet count. The brand's core role is to provide vehicle leasing and associated fleet services in the United Kingdom. Its position is closely connected to Lloyds Banking Group's financial-services ownership, while its market identity is focused on helping organizations acquire, operate and manage vehicles over contractual periods. No separate international operating footprint, current executive roster or official website is identified in the supplied reference material.

Lex Autolease was established in May 2009 through the merger of Lex Vehicle Leasing and Lloyds TSB Autolease. The combination followed Lloyds TSB Group's acquisition of HBOS and brought the two organizations under the newly enlarged Lloyds Banking Group structure. Although the brand dates from 2009, its component businesses had much older histories in vehicle finance and contract hire. Lex's involvement in vehicle leasing developed after it acquired British Colonial Motors in 1959, enabling entry into the contract-hire market. The Lex operation expanded through the acquisition of Controlled Cost Motoring in 1969, the establishment of Lombard Contract Hire in 1983 and the acquisition of Fleetdrive in 1988. These steps helped build the operating capabilities and customer base that later became associated with Lex Vehicle Leasing. By 2005, Lex Vehicle Leasing was owned by Aviva as part of RAC plc; from 2006 to 2009 it was owned by HBOS. The Autolease business had a separate origin. It was established in 1959 by Britax, a group that also owned Bristol Street Motors. Through subsequent corporate developments and mergers, Autolease became part of the Lloyds-related vehicle-finance landscape. The 2009 merger unified the Lex and Autolease operations under one brand. The reference material records that Lex carried debt of approximately £2.4 billion at the time of the merger. The business operated in a highly competitive fleet-leasing market. During the first decade of the twenty-first century, it lost several large contracts, including relationships connected with HSBC Vehicle Finance, Ford Business Partner and Volvo. In 2014, Lex Autolease opened a multi-million-pound car supermarket and vehicle-processing centre in Coventry, reportedly creating 30 jobs. The centre closed within two years, making it a short-lived infrastructure investment. Lex Autolease remained a major United Kingdom vehicle-leasing provider. The Wikipedia reference describes it as the largest vehicle-leasing business in the country, with a fleet of about 385,000 vehicles, and states that approximately one in every thirty new cars sold in the United Kingdom was arranged through the business. The reference does not provide a current executive list, a verified official website address or a separately reported present-day financial profile. Its documented business scope consists principally of vehicle leasing, contract hire, fleet administration and related vehicle-processing activities.

• 2016

  Coventry centre closes

  [1]Lex Autoleaseen.wikipedia.org

  The Coventry facility was reported to have closed within two years of opening.

• 2014

  Coventry vehicle-processing centre opens

  [1]Lex Autoleaseen.wikipedia.org

  Lex Autolease opened a multi-million-pound car supermarket and vehicle-processing facility in Coventry and reportedly created 30 jobs.

• 2009

  Lex Autolease formed

  [1]Lex Autoleaseen.wikipedia.org

  Lex Vehicle Leasing and Lloyds TSB Autolease were merged after Lloyds TSB Group acquired HBOS.

• 2006

  HBOS acquires Lex Vehicle Leasing

  [1]Lex Autoleaseen.wikipedia.org

  Lex Vehicle Leasing came under HBOS ownership.

• 2005

  Lex Vehicle Leasing owned by Aviva within RAC

  [1]Lex Autoleaseen.wikipedia.org

  By this year, Lex Vehicle Leasing was owned by Aviva as part of RAC plc.

• 1988

  Lex acquires Fleetdrive

  [1]Lex Autoleaseen.wikipedia.org

  Lex acquired Fleetdrive, adding to its contract-hire and fleet-services operations.

• 1983

  Lombard Contract Hire established

  [1]Lex Autoleaseen.wikipedia.org

  Lex established Lombard Contract Hire as part of its expansion in vehicle leasing.

• 1969

  Lex acquires Controlled Cost Motoring

  [1]Lex Autoleaseen.wikipedia.org

  The acquisition expanded Lex's presence and capabilities in vehicle contract hire.

• 1959

  Lex enters contract hire after acquiring British Colonial Motors

  [1]Lex Autoleaseen.wikipedia.org

  Lex acquired British Colonial Motors, allowing it to enter the contract-hire business.

• 1959

  Autolease established by Britax

  [1]Lex Autoleaseen.wikipedia.org

  Britax established Autolease as a separate vehicle-leasing operation.

A large United Kingdom fleet-leasing and vehicle-management provider combining vehicle finance, contract hire and operational fleet services under the Lloyds Banking Group ownership structure.

• Automotive finance

  Vehicle leasing

  Lex Autolease's core activity is arranging vehicles for customers through leasing contracts rather than direct purchase. The business is associated with large-scale fleet provision in the United Kingdom and supports organizations that need vehicles over defined contractual periods.

• Fleet services · 1959

  Contract hire

  Contract hire is a major historical and operational component of the Lex business. It enables customers to use vehicles for an agreed term, with the leasing provider managing the contractual and residual-value aspects of the arrangement.

• Fleet services

  Fleet management

  The brand's fleet-management role covers the administration and coordination associated with leased vehicle fleets. The supplied reference supports fleet operations generally but does not specify a complete catalogue of current service packages.

• Automotive operations · 2014

  Vehicle processing and remarketing

  Lex Autolease has operated vehicle-processing infrastructure, including the Coventry car supermarket and processing centre opened in 2014. The centre later closed, while the broader vehicle-processing activity is documented as part of the business's operating scope.

• 2014

  Open Coventry vehicle-processing centreStrategy

  Background

  Lex Autolease sought to expand its physical vehicle-processing and retail infrastructure.

  Action taken

  The company opened a multi-million-pound car supermarket and vehicle-processing centre in Coventry.

  Aftermath

  The facility reportedly created 30 jobs but closed within two years.

  Source

• 2009

  Merge Lex Vehicle Leasing with Lloyds TSB AutoleaseM&A

  Background

  Lloyds TSB Group's acquisition of HBOS created the corporate context for combining the HBOS-owned Lex Vehicle Leasing business with Lloyds TSB Autolease.

  Action taken

  The two operations were merged under the Lex Autolease brand within the Lloyds Banking Group structure.

  Aftermath

  The merger created a large United Kingdom vehicle-leasing business. The reference material records debt of approximately £2.4 billion at the time of the combination.

  Debt. £2.4 billion (At the time of the 2009 merger)

  Source

1. 1Lex Autoleaseen.wikipedia.org