Masterlease can trace its roots back to the 1960s, in the form of a company called Hangar Vehicle Rentals (HVR). As company vehicle financing grew in popularity in the early 1970s, HVR was approached to become the UK member of the Interleasing alliance. Two years later, HVR took on the name Interleasing. Over the next two decades, the company grew into one of the UK's leading contract hire and fleet management operators.
In 1984, the Cowie Group bought Hangar Investments and in doing so, gained ownership of Interleasing. Several name changes followed - Cowie Interleasing in 1987 and then ARRIVA Automotive Solutions (AAS) in 1997. When, in 1999, ARRIVA decided that vehicle leasing did not fit with its long-term business portfolio, AAS was sold to GMAC and the company reverted to the Interleasing name.
GMAC had begun its investment into full service leasing in 1996, with the establishment of Masterlease in Germany. Following from the success of this operation, the company expanded rapidly, opening new businesses in Austria in 1997 and Portugal in 1998. GMAC also invested in an Australian leasing business in 1997, which became known as Interleasing. 1999 saw a period of major expansion for Masterlease, with the opening of a new operation in Greece and in Italy. A Spanish business was established during 2000, with offices opening first in Madrid and, a year later, in Barcelona.
Also during 2001 Masterlease took its first step into central Europe, with the acquisition of Polish companies Futura and Prime Car Management. The following year, a new operation in Paris was established to serve France, and a majority share in SNS Automotive in the Netherlands was acquired in order to further increase Masterlease's European network. All European businesses have subsequently been re-branded to Masterlease.
Also in 2002, Masterlease made its first entry into Latin America with the start of a new business in Mexico. This has been very successful, achieving rapid growth in this new and developing market.
More recently, 2006 has seen Masterlease enter Ireland and Sweden, and in 2007 Denmark and Norway were added to the list of Masterlease countries. Nevertheless, there are plans for further expansion.
© Masterlease