The cloak of darkness has been lifted on the mystery suitor of FleetPartners Group Limited (ASX:FPR) that the company signalled was trying to buy into the business last year. DataRoom can reveal that the party was Japanese corporation Marubeni Corporation (TSE:8002). In the past two years, Marubeni has agreed on alliances with a number of groups to partner over fleet leasing, including New York listed Lithia & Driveway and Panasonic Holdings.

Yet being a Japanese group, if it was keen to buy FleetPartners, it would be likely taking its time. The $762 million fleet leasing business previously named Eclipx has been considered a takeover target for some time, with the expected outcome being a scrip merger with one of its rivals like SG Fleet or McMillan Shakespeare. FleetPartners told the market in May that it had been informed a strategic party was considering acquiring a significant minority interest, potentially through market purchases within limits.

FleetPartners has previously held talks with a number of private equity firms like Kohlberg Kravis Roberts, Carlyle and Apollo Global Management about a buyout.