Paragon Banking Group sells Specialist Fleet Services subsidiary to NRG Fleet Services for £85.6m
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Insider Media
Summary
Paragon Banking Group has agreed to sell its subsidiary Specialist Fleet Services (SFS) to NRG Fleet Services for £85.6m, including settlement of intra-group debt. SFS provides municipal vehicle support and leasing to local authorities and private waste operators. Paragon originally acquired SFS through its acquisition of Five Arrows Leasing Group Ltd in October 2015.
Source
bskyParagon Banking Group sells Specialist Fleet Services subsidiary to NRG Fleet Services for £85.6minsidermedia.comKey quotes
· 3 pulledParagon Banking Group has agreed to sell its subsidiary Specialist Fleet Services (SFS) - which provides municipal vehicle support and leasing to local authorities as well as private waste operators - to NRG Fleet Services for £85.6m, including the settlement of SFS' intra-group debt.
Paragon acquired SFS through its acquisition of Five Arrows Leasing Group Ltd in October 2015.
It is a specialist business within Paragon's Commercial
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