Car rental broker Nexus was a lean and underfunded company, but one with the capability to become a market leader thanks to its unique customer facing IRIS IT system. Industry veteran Neil McCrossan spotted the opportunity to transform the business by working with the existing management team and investing in the company.

“Having previously looked at a couple of opportunities with ISIS I knew them well and there was only one phone call I was ever going to make when the Nexus opportunity came up.” Neil McCrossan, chief executive.

With huge trust in Neil’s ability we invested in the midst of recession. We built a strong team around him and executed the first acquisition only months into the deal. The acquisition of the vehicle rental management arm of FMG support transformed the scale and potential of Nexus and it ‘burst through the glass ceiling’, from £1.2m to £2m profitability. It proved the scalability of Nexus way beyond expectations.

In 2010 Nexus completed the acquisition of Adapted Vehicle Hire, complementing the Group’s market leading rental service offering and securing an important supplier in a strategically important market segment of providing vehicles for disabled drivers.

• Since the MBO/MBI in 2008, turnover has grown 5-fold  from historic £6.8m to £32.8m in 2010.

• Significant growth through the acquisition of the vehicle rental management arm of FMG Support in 2008 and Adapted Vehicle Hire in 2010.

1999
Founded in Leeds

2006
IRIS system launched

2008
Nexus backs £11m MBO/MBI, historic turnover £6.8m

2008
Neil McCrossan joins as Chief Executive

2008
Neil McCrossan joins as Chief Executive

2008
Andy Vaughn joins as Chairman

2008
Acquires the vehicle rental management arm of FMG Support

2010
Acquires Adapted Vehicle Hire, turnover £32.8m