Rivervale announces second acquisition of 2023
5th August 2023
Author EditorPosted on Categories Motoring
Automotive group acquires Worthing-based leasing broker.
Rivervale, the long established, Brighton based leading automotive group providing leasing, purchasing, servicing and vehicle management for cars, vans and minibuses, is pleased to announce the acquisition of Worthing-based leasing broker OSV.
The acquisition is part of Rivervale’s expansion plan following the management buyout in 2022, which saw the company become fully owned by its directors. Rivervale aims to grow its market share and customer base by offering a wider range of vehicle leasing solutions and services.
OSV, established in 1997, has a wealth of experience in the vehicle leasing industry, providing bespoke and impartial advice to customers across the UK. OSV has a strong reputation for delivering excellent customer service and value for money, and throughout the years has built an impressive client base.
By acquiring OSV, Rivervale will be able to leverage its expertise and resources to offer more choice and flexibility to its customers, as well as access to new markets and segments. The acquisition will also complement Rivervale’s existing portfolio of customers who are currently in contract with a vehicle lease.
Rivervale CEO Vince Pemberton said: “We are delighted to welcome OSV to the Rivervale family. This acquisition is a strategic move that will help us deliver our vision to be the UK’s most trusted vehicle provider across several different sectors. We look forward to working together to provide the best possible service and solutions to customers, and continue to make motoring manageable.”
Andrew Kirkley, one of the co-founders of OSV, said: “Debs and I| are very excited to join forces with Rivervale, a company that we have admired and respected for a long time. We believe that this is a great opportunity for both our customers and our staff, who will benefit from being part of a larger and more diverse organisation. We are confident that Rivervale will continue to uphold the high standards and values that we have established at OSV.”
The acquisition was completed on 25 July 2023, and OSV will operate as a trading style of Rivervale Cars Ltd. The terms of the deal were not disclosed.