AURELIUS Equity Opportunities & : closes acquisition of BT Fleet Solutions from BT Group Plc

Munich / London, 1. October 2019 - AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) has completed the acquisition of industry leading end-to-end commercial fleet management operator, BT Fleet Solutions from BT Group Plc, with effect from 30 September 2019.

Headquartered in Solihull, BT Fleet Solutions offers a comprehensive suite of fleet management services across all stages of the vehicle life cycle, through its network of 65 in-house garages, 500 partner facilities and 50+ mobile technicians. Established in 2002, BT Fleet Solutions employs around 950 staff around the UK, and manages more than 80,000 vehicles for over 26 blue chip customers across diversified industries. The latest published statutory accounts for 2017/18 for BT Fleet Ltd show revenues of GBP 209.5 million and its industry leading position leaves it well placed to capture the high levels of growth available in the UK's fleet management market.

BT Fleet Solutions has recently signed two significant contract wins, as follows:

• A 5+2 year contract with construction company Kier Group to manage all passenger and commercial vehicle fleet services on an outsourced basis, including vehicle maintenance, accident management and invoice management. The contract is due to go live in December 2019 with a value of GBP 39 million to BT Fleet Solutions.
• A 30-month contract with Highways England to provide fleet maintenance and management services to its fleet of around 420 vehicles. The contract value to BT Fleet Solutions is GBP 4 million.

'We see substantial growth potential for BT Fleet in the British market and we are looking forward to realizing this potential together with the company's management and team,' said Dr. Dirk Markus, Chief Executive Officer of the AURELIUS Group. 'The United Kingdom will continue to be an attractive market for us in the future as well. Brexit and the related uncertainty are creating special opportunities from which investors like us can benefit.'

The divestment of BT Fleet Solutions aligns with BT's ongoing transformation programme and strategy of focusing on converged connectivity and services, with further investments in both its fixed and mobile networks via programmes such as full fibre and 5G.

This deal represents another example of AURELIUS' specialism in complex divestment processes. In the coming months, AURELIUS' operational task force will support BT Fleet Solutions in executing a carve out from BT, ensuring a seamless continuation of the company's day to day operations, whilst working to position the business as an independent entity. The company is expected to be rebranded within the next 12 months.