South Africa’s Eqstra acquired by Bidvest
Eqstra Fleet Management and Logistics, based in South Africa, was acquired by Bidvest, a services and trading company for $222.34 million, according to Reuters.
The Bidvest group entered into an agreement to buy Eqstra from enX Group Limited, which had itself acquired the South African company in 2016.
Eqstra is a leading player in vehicle fleet management in South Africa. The company has around 12,300 vehicles under lease and 120,000 fleet assets under management. Eqstra is also part of Global Fleet Services, a global network of fleet management companies that also includes ARI in North America and Orix in Asia Pacific.
Image: street in Johannesburg