FleetPartners Group agrees to $1.13B buyout deal

• FleetPartners Group enters into a binding scheme implementation deed with SG Fleet Management to be acquired for $5.30 per share in cash.
• The cash offer values the company’s equity at approximately $1.13 billion.
• The FleetPartners board unanimously recommended the proposal, as it delivers immediate cash value and allows shareholders to benefit from franking credits attached to potential final and special dividends.

FleetPartners Group (ASX:FPR) has entered into a binding scheme implementation deed to be acquired by SG Fleet Management in an all-cash deal valuing the business at approximately $1.13 billion.

The proposed acquisition offer of $5.30 per share represents an 87.3% premium to FleetPartners’ last undisturbed closing share price of $2.83 on July 31, as well as a $0.65 per share increase over non-binding proposals received on Sept. 14.

The agreement allows FleetPartners to pay an FY26 final dividend of up to $0.14 per share and a special dividend of up to $0.12 per share, enabling eligible shareholders to receive additional benefits from attached franking credits.

FleetPartners CEO and Managing Director Damien Berrell said, "This transaction reflects the strength of the business our team has built, the deep and enduring relationships we have with our customers, and the significant opportunities that lie ahead for FleetPartners."

Under the terms of the scheme implementation deed, Pacific Equity Partners-backed SG Fleet will acquire 100% of FleetPartners' fully paid ordinary shares subject to an independent expert report and shareholder approval.

The FleetPartners board unanimously recommended that shareholders vote in favour of the scheme in the absence of a superior proposal.

Following the announcement, the FleetPartners Group share price was up at $5.12.

FleetPartners operates as a major fleet management and vehicle leasing provider across Australia and New Zealand.